Kirch Group

The Kirch Group was up to the bankruptcy and subsequent breaking up in 2002, one of Germany's largest media groups. He grew over the years from a film distribution company founded by media entrepreneur Leo Kirch in 1955 and was until recently largely in its personal property. The Group maintains its corporate structure was recently very complex, comprised, among other things, several of the largest private television networks, including ProSieben Sat1 and, as well as the pay-TV channel Premiere World (now Sky Germany ). The insolvency was triggered by an interview with utterance of the former chief executives of Deutsche Bank, Rolf E. Breuer, which had years of litigation resulted.

On December 14, 2012, the Higher Regional Court of Munich ruled that church or his heirs a claim for damages by the German Bank is entitled, the amount of which must be determined by an appraisal.

History

See also the presentation of the company history in Leo Kirch

Leo Kirch founded in 1955 with the Sirius film his first company for the exploitation of film rights. This was followed in 1959 and 1963, the Taurus Beta Film movie. As sales agents he rose to become one of the most important and influential media entrepreneur in Germany. The ZDF was for many years completely dependent on him and did not have their own contacts to the film industry in Hollywood.

Over the decades, church built on a complex and confusing empire with numerous subsidiaries and associated companies. The Kirch Group was involved among other things in the Axel - Springer -Verlag as well as the TV stations Sat.1, ProSieben, Kabel 1 and DSF. In 1996, the founding of the pay-TV platform DF1, which eventually merged into Premiere took place. Following a restructuring of the Kirch Group was divided in 1999 into three holding companies, which Kirch Holding GmbH & Co. KG (later Taurus Holding GmbH & Co. KG ) were connected to each other.

Because of over-indebtedness ( EUR 6.5 billion ) went bankrupt, Kirch Media in April 2002. In the following months, the group was broken up. ProSiebenSat.1 Media AG took over the U.S. investor Haim Saban, the trading company Beta Film and the classical division Unitel the former Kirch manager Jan Mojto. The insolvency of Premiere was narrowly avoided.

Process for breach of banking secrecy

In the opinion of Leo Kirch caused a deliberate statement about the lack of creditworthiness of the company by the German Bank Manager Rolf -E. Breuer in a television interview insolvency. In its judgment of 24 January 2006 (ref.: XI ZR 384/ 03) said the Federal Court Church the right to compensation in principle. The amount of damages is to be determined in a separate judgment.

Leo Kirch died 2011. His heirs claimed up to 3.5 billion euros in damages. 2012 rejected the Management Board of Deutsche Bank from a finished negotiated comparison. The bank would have to pay about 800 million euros for the settlement of the feud. Even before negotiations on an agreement out of court have repeatedly failed.

On 14 December 2012, the Higher Regional Court Munich ordered the German bank to pay compensation to the heirs. The court considered it proven that Breuer had damaged his controversial interview statement on the creditworthiness of the Group Kirch. The amount of compensation is to be determined by an appraisal. The degree of possible damage estimated the court already 120 million to 1.5 billion euros.

On April 11, 2013, the German bank repeated for legal reasons its Annual General Meeting in 2012.

In February 2014 report The mirror and the Süddeutsche Zeitung, the bank check a comparison; Board Members will talk about it. So maybe could be (along with Anshu Jain head of Deutsche Bank ) also prevents an indictment Jürgen Fitschen. According to ' mirror ' to the Munich prosecutor has suggested the bank to relent and agree with the family church. On February 20, 2014, the Handelsblatt reported that the German Bank have reached an agreement with the church - heirs on a settlement, which amounts to 925 million euros.

Corporate Structure

  • Taurus Holding GmbH & Co. KG Kirch Media GmbH & Co. KGaA ( 73%) TV: ProSiebenSat.1 Media ( 52%), DSF (100 % ), Junior TV ( 50%)
  • Production: ndF (90 %), Roxy movie (100 %), film production Janus (100 %), Taurus Media Technology ( 100%), locust valley synchronous (100 %)
  • Trading: Beta Film (100 %), TaurusLizenz (100 %), Kirch Sport ( 100 %), ISPR (51%)
  • Premiere ( 100%)
  • Beta Digital ( 100%)
  • Tele Club (40 %)
  • Unitel (100 %)
  • Axel Springer AG (40 %)
  • Constantin film (21 %)
Federal Court of Justice of Germany Settlement (litigation) neue deutsche Filmgesellschaft
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