JANUARY 29, 2001
Kirch ups EM.TV bid as rivals gather
THE Kirch media empire has decided to improve its bid to get control of the struggling EM.TV company, owner of 50% of Bernie Ecclestone's Formula One group of companies. There are believed to be several groups looking at EM.TV including the giant Walt Disney company, as we suggested might be the case several weeks ago. Disney is keen to get its hands on The Muppets.
As part of Kirch's bid for EM.TV we hear that the company has agreed that it will pay the $1bn to gain control of an extra 25% of Formula One.
This week will be significant as EM.TV is allowed to start talking to rival bidders at the end of January.