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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.
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