KKR Buys Third Entertainment Company in Germany
The private equity giant acquired i&u TV, the production shingle co-owned by top TV presenter Gunther Jauch, adding the company to previous German media acquisitions Tele-Munchen Group and Universum Film.
Private equity group KKR is continuing its buying spree in the German television market, on Friday acquiring its third local company with a deal for production house i&u TV, a shingle co-owned by top TV presenter Gunther Jauch.
Based in Cologne, i&u TV is best known for its light entertainment shows, many of them hosted by Jauch, the country's most-famous television presenter.
Jauch will stay on as a host for i&u-produced shows, KKR said in a statement announcing the deal. i&u co-owner Andreas Zaik will stay on as managing director and editor-in-chief.
KKR adds i&u to its growing stable of German companies. Earlier this year, KKR bought German mini-major Tele-Munchen Group and film distribution company Universum Film. The private equity group says it plans to bundle the companies together to create an independent "German content" company to supply both local networks and international platforms such as Netflix and Amazon in the German market.
KKR has named German TV industry veteran Fred Kogel CEO of the new company.