APRIL 30, 2001
Kirch and EM.TV to trade shares
Recently Kirch helped EM.TV out with the supply of around $1 billion to fund the purchase of a 25 percent share of SLEC to add to the 50 percent EM.TV already held.
But EM.TV's chief financial officer Rolf Rickmeyer revealed that the financing deal will allow Kirch to claim a greater stake than the current 37.5-37.5 percent sharing.
EM.TV will as a result reduce their share to 17.5 percent and the Kirch-owned share of the SLEC group, which controls the commercial and broadcasting rights to Formula One, will rise to 57.5 percent.