KirchPayTV Unit Files for Bankruptcy
Associated Press
Kirch Group’s unprofitable pay television unit filed for bankruptcy protection, completing the collapse of Germany’s biggest commercial broadcaster after it piled up debt in an ill-fated expansion drive.
The Premiere subscription channel said the filing is the only chance to find new investors.
The bankruptcy of Munich-based KirchPayTV, which owns Premiere, comes a month after that of KirchMedia, which controls the group’s free TV stations and film-rights library.
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