News: Kirch Insolvency I
KirchMedia GmbH's filing for insolvency has no direct impact on Sat 1 Schweiz AG's programming or business operations.
The insolvency filing of KirchMedia GmbH has no direct impact on the programming and business operations of Sat 1 Schweiz AG.News Kirch insolvency I
This was announced by the Ringier media group, which holds a 50 percent stake in Sat 1 Schweiz. The other half of the shares belongs to the German Sat 1 GmbH, a wholly owned subsidiary of the listed ProSiebenSat1 Media AG. The insolvent KirchMedia GmbH holds 52.5 percent of ProSiebenSat1. However, according to Urs Rohner, CEO of ProSiebenSat1 and member of the Board of Directors of Sat 1 Schweiz AG, the ProSiebenSat1 Group is financed independently of the Kirch Group and has long been a profitable company. It is therefore not directly affected by Kirch-Media's insolvency proceedings. The broadcasting rights to the 2002 Soccer World Cup, which Sat 1 Schweiz acquired, are also not in danger. The rights have been secured and paid for, explained Marc Görtz, Managing Director of Sat 1 Switzerland.
Kirch insolvency II The advertising time marketer IP Multimedia is also calling for calm in the face of KirchMedia's insolvency. According to the company, numerous media reports on the financial situation of the Kirch Group have led to a certain amount of uncertainty. However, it assures that the ProSiebenSat1 Group and its stations are neither part of the KirchMedia insolvency proceedings nor directly affected by them. IP Multimedia will continue to market the Swiss advertising windows on ProSieben and Kabel 1 in the future.
Evening World Cup newspaper from 20 minutenDuring the 2002 World Cup, the commuter newspaper 20 Minuten is publishing an evening newspaper every day from Monday to Friday. Two hours after the final whistle (7.45 pm), the World Cup special with a circulation of 100,000 copies will be distributed free of charge at the main railway stations in Zurich, Berne and Basel.
This was announced by the Ringier media group, which holds a 50 percent stake in Sat 1 Schweiz. The other half of the shares belongs to the German Sat 1 GmbH, a wholly owned subsidiary of the listed ProSiebenSat1 Media AG. The insolvent KirchMedia GmbH holds 52.5 percent of ProSiebenSat1. However, according to Urs Rohner, CEO of ProSiebenSat1 and member of the Board of Directors of Sat 1 Schweiz AG, the ProSiebenSat1 Group is financed independently of the Kirch Group and has long been a profitable company. It is therefore not directly affected by Kirch-Media's insolvency proceedings. The broadcasting rights to the 2002 Soccer World Cup, which Sat 1 Schweiz acquired, are also not in danger. The rights have been secured and paid for, explained Marc Görtz, Managing Director of Sat 1 Switzerland.
Kirch insolvency II The advertising time marketer IP Multimedia is also calling for calm in the face of KirchMedia's insolvency. According to the company, numerous media reports on the financial situation of the Kirch Group have led to a certain amount of uncertainty. However, it assures that the ProSiebenSat1 Group and its stations are neither part of the KirchMedia insolvency proceedings nor directly affected by them. IP Multimedia will continue to market the Swiss advertising windows on ProSieben and Kabel 1 in the future.
Evening World Cup newspaper from 20 minutenDuring the 2002 World Cup, the commuter newspaper 20 Minuten is publishing an evening newspaper every day from Monday to Friday. Two hours after the final whistle (7.45 pm), the World Cup special with a circulation of 100,000 copies will be distributed free of charge at the main railway stations in Zurich, Berne and Basel.
