Dr. Herbert G. Kloiber sells TMG to investment company KKR
After 42 successful years, Dr. Herbert G. Kloiber sells Tele München Group (TMG) to investment company KKR
50 years after its founding and 42 years after he initially acquired the company, Dr. Herbert G. Kloiber has sold Tele München Fernseh GmbH + Co. Produktionsgesellschaft and Tele München Fernseh-Verwaltungs GmbH to the leading US-based private equity company KKR & Co. Inc.
The integrated media company Tele München Group is a leading international player in the European media industry. Together with Walt Disney/ABC International Television Inc. it holds one third of the nationwide German free-tv network RTL II Fernsehen GmbH & Co. KG. In addition, TMG owns 85% of the publicly listed production company Odeon Film AG (ISIN: DE0006853005) as well as many other affiliates that are wholly owned by Tele München Fernseh GmbH + Co. Produktionsgesellschaft. The latter include the theatrical distribution arm Concorde Filmverleih GmbH, the home entertainment distribution arm Concorde Home Entertainment GmbH, the production company Clasart Film- und Fernsehproduktions GmbH, the world sales arm TM International GmbH and the successful nationwide German free-tv channel TELE 5 TM-TV GmbH, which was relaunched in 2002.
Dr. Herbert G. Kloiber will serve as Member of the Advisory Board in the new platform created by KKR & Co. Inc. At the same time, he will remain Member of the Executive Board of Odeon Film AG until the company’s annual shareholders meeting in July.
Herbert L. Kloiber (jun.) will continue to serve as Managing Director of all core business units of Tele München Group.
Since Dr. Herbert G. Kloiber acquired Tele München Fernseh GmbH + Co. Produktionsgesellschaft in 1977, the company developed from a production company into a fully integrated media company. The acquisition of the German theatre chain CinemaxX AG with approx. 1,800 employees later on lead to consolidated pro forma revenues of EUR 520 millions.
Numerous leading media companys were and still are Dr. Herbert G. Kloiber’s partners at TMG. These include Burda, Heinrich Bauer Verlag (RTL II / tm3, 1992-2019), Silvio Berlusconi‘s Fininvest (TELE 5, 1987-1991), Bertelsmann/CLT and Axel Springer Verlag (TELE 5, 1988); Capital Cities/ABC (1989-1996); Walt Disney/ABC International Television Inc. (RTL II, 1992-2019); Rupert Murdoch‘s News Corp. (tm3, 1998-2000) and EM.TV AG (1999-2004).
Two years ago, TMG sold its stake in the Austrian free-tv network ATV, which now continues to be successfully operated by ProSiebenSat.1 PULS 4.
Dr. Herbert G. Kloiber: „First of all, I’d like to thank the fantastic, longterm TMG employees and our partners. In particular, I’d like to thank ZDF, which has been the greatest partner from 1970 (“The Seawolf”) until today (“Der Staatsanwalt”). I entrust the company to an experienced and seasoned financial investor, who has deep knowledge of the international media market and has assigned Fred Kogel, an expert in the business, to ensure TMG’s growth and prosperity.”
“Thanks to Dr. Kloiber for the trust in us to further develop this great company. We are excited to partner with TMG to create something new in the film and TV business: A platform that covers the entire value chain from film set to cinema and TV and which we will build-out further through acquisitions”, said Philipp Freise, Member and Head of the European Technology, Media and Telecommunications Industry team at KKR.
The closing of the transaction is subject to regulatory approvals.
TMG’s longterm financial partner, UniCredit Bank AG Deutschland, has worked in the transaction team along with the law firm Wirsing Hass Zoller Rechtsanwälte Partnerschaft mbB and tax consultants Dr. Kleeberg & Partner GmbH.
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