Herbert Kloiber's Tele Munchen Group Takes Stake In Odeon Film

33% stake makes TMG Odeon's largest single shareholder after GFP.

COLOGNE, Germany -- Herbert Kloiber's Tele Munchen Group has taken a 33% stake in German televison production group Odeon Film, making TMG the group's largest single shareholder behind media fund German Film Productions.

TMG paid just under $6 million for the minority stake in Odeon, an umbrella production group which controls several of Germany's most acclaimed TV drama production houses. Kloiber has been in a battle for almost two years now to buy into Odeon. The group's production assets are a good fit for TMG's other operations, which include stakes in German channels RTL2 and Tele 5 and Austria's ATV. The deal still has to be approved by German anti-cartel authorities.