Kirch Group

Kirch Group
Native name
KirchGruppe
IndustryMedia
Founded1955; 69 years ago (1955) in Bavaria, Germany
FounderLeo Kirch
Defunct2002 (2002)
FateBankruptcy, assets sold; ProSiebenSat.1 Media's majority stake acquired by Mediaset
SuccessorMFE - MediaForEurope (via ProSiebenSat.1 Media)
HeadquartersBavaria, Germany

KirchGruppe (KirchGroup) was a German media group founded by Leo Kirch in the 1950s. It was the dominant buyer and seller of TV programming rights in Germany.[1] By 2000, it controlled a 52.5 percent stake in what became the country's biggest broadcaster, ProSiebenSat.1 Media.[2]

The group collapsed in 2002 largely due to the debts associated with the purchase of sports rights for its television channels and the launch of pay-TV services. It was Germany's biggest corporate collapse since World War II.[3]

KirchMedia declared bankruptcy on 8 April 2002, followed by KirchPayTV on 8 May 2002 and finally KirchBeteiligung on 12 June 2002 along with the holding company for the group, Taurus Holding.

  1. ^ Cite error: The named reference k40 was invoked but never defined (see the help page).
  2. ^ Schmid, John (29 June 2000). "Kirch Group Secures Grip on German TV". The New York Times. Retrieved 24 January 2021.
  3. ^ Cite error: The named reference bbckirchmedia was invoked but never defined (see the help page).