Media Mogul Kirch Returns To Action Via EM.Sport Deal

KirchGroup Founder Leo Kirch, whose company "dominated the German TV scene until its spectacular collapse five years ago," signed yesterday "a major share-swap deal" with sports rights group EM.Sport Media, according to Scott Roxborough of the HOLLYWOOD REPORTER. EM.Sport, which changed its name from EM.TV this summer, "will acquire a [25.1%] stake" in Swiss media group Highlight Communications, held by Kirch-controlled company KF 15. KF 15 will get $90.4M in cash "plus 9 million EM.Sport shares," which will give the Kirch vehicle an 11.5% stake in EM.Sport. EM.Sport purchased for $3.8M "an option to acquire KF 15's remaining 11.3% of Highlight" (HOLLYWOOD REPORTER, 9/27).