Saban Sole Contender for KirchMedia
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U.S. billionaire Haim Saban came a step closer to buying Germany’s No. 2 private broadcaster after a rival dropped out, positioning him to become the first foreigner to take a chunk of the television market in Europe’s biggest nation.
The insolvent KirchMedia, which controls broadcaster ProSiebenSat.1 and Europe’s largest library of film rights, said it was in the final stages of talks with the former owner of Fox Family television.
The only other bidder, German publisher Bauer Verlag, withdrew from the race.
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