Factual
Kirch creditors okay US mogul Saban’s ProSieben bid
FRANKFURT: Creditors of insolvent German media group KirchMedia have accepted US billionaire Haim Saban’s revived bid to buy Germany’s biggest broadcaster ProSiebenSat.1 Media, a spokesperson for KirchMedia said on Tuesday. ProSiebenSat.1 Media brings dubbed versions of US shows such as Friends and Sex in the City into German homes.
KirchMedia´s major field of activity includes Free-TV, in which it operates five channels: Sat.1, ProSieben, Kabel 1, Deutsches SportFernsehen DSF and news channel N24 in Germany. KirchMedia is active on the European free-TV market as well, with holdings in Spain (Telecinco) and Italy (Mediaset).
In March this year, news agencies reported that Saban has made a deal to take control of ProSiebenSat.1, Germany’s second-largest private broadcaster from KirchMedia. The deal would bring an outsider into Germany’s media world, the bankrupt Kirch Group unit had stated. Finally, Saban’s deal fell through when financing deadlines were not met. This time Saban has lined up several private equity firms as backers, German news media reports stated.
Saban, in partnership with France’s Television Francaise 1, had emerged as top bidder for ProSiebenSat.1 after Germany’s Bauer Verlag had dropped out. The two sides had not named a price and Saban was said to be negotiating its other major asset, the film and TV library. Saban is well-known in the US as head of the company that created the Mighty Morphin Power Rangers television series.
Earlier, there were talks that Italian Prime Minister and media mogul Silvio Berlusconi, or billionaire Rupert Murdoch might bid for Kirch in bankruptcy proceedings — a speculation that had led to concerns among some German politicians about foreign involvement. However, Saban’s bid had not aroused similar criticism.
Sources close to the talks have said that Saban bid 525 million euros ($595 million) for Kirch’s 72 percent of ProSieben’s unlisted but vote-wielding ordinary stock, valuing ProSieben at 1.3 billion euros.
Private equity firm Apax Partners said earlier it had submitted a higher bid.
MUMBAI: India’s most famous hot seat is about to welcome an unlikely first-timer. For the first time on Hindi general entertainment television, industrialist Kumar Mangalam Birla will appear on Kaun Banega Crorepati, the iconic quiz show hosted by Amitabh Bachchan.
The special episode marks a rare meeting point of boardroom heft and prime-time television, bringing one of India’s most influential business leaders face to face with the country’s most enduring screen legend. It is a crossover that blends intellect, leadership and popular culture, all under KBC’s familiar spotlight.
Birla’s appearance dovetails neatly with the show’s current theme, Jahaan Akal Hai, Wahan Akad Hai, which celebrates the confidence that comes from clarity of thought and knowledge. His presence lends weight to the idea that sharp thinking and conviction are as vital in life as they are in the quiz chair.
In a thoughtful conversation with Bachchan, Birla shared an upbeat view of India’s economic journey, pointing to the nation’s rapid growth and the scale of opportunity opening up across industries and communities. He spoke of momentum, ambition and a future shaped by enterprise and ideas.
The episode is not all serious talk. In lighter moments, Birla confessed his long-standing admiration for Bachchan, calling him his favourite actor and admitting to a touch of nervousness at answering questions in front of the Shahenshah himself. The candour adds a human touch to a man more often seen in headlines than on television sets.
The special episode airs on Monday, 29 December at 9.00 pm on Sony Entertainment Television and Sony LIV.
