Road to Constantin Medien at end

Highlight completes Constantin takeover

COLOGNE, Germany -- Swiss media group Highlight Communications on Tuesday completed its takeover of German indie giant Constantin Film with a squeeze-out of minority shareholders.

The move clears the way for the delisting of Constantin and completes the long and complicated plan masterminded by octogenarian mogul Leo Kirch to link up Highlight and German TV group EM.Sport Media, now renamed Constantin Medien.

Kirch, through his KF 15 holding company, controls 25.85% of Constantin Medien, which in turn holds a 37.6% stake in Highlight. Together, the two firms form one of Europe's largest licensing companies, dealing both in film and sports rights.