Kirch Group
KirchGruppe (KirchGroup) was a German media group founded by Leo Kirch in the 1950s. It was the dominant buyer and seller of TV programming rights in Germany. By 2000, it controlled a 52.5 percent stake in what became the country's biggest broadcaster, ProSiebenSat.1 Media.
Native name | KirchGruppe |
|---|---|
| Industry | Media |
| Founded | 1955 in Bavaria, Germany |
| Founder | Leo Kirch |
| Defunct | 2002 |
| Headquarters | Bavaria, Germany |
The group collapsed in 2002 largely due to the debts associated with the purchase of sports rights for its television channels and the launch of pay-TV services. It was Germany's biggest corporate collapse since World War II.
KirchMedia declared bankruptcy on 8 April 2002, followed by KirchPayTV on 8 May 2002 and finally KirchBeteiligung on 12 June 2002 along with the holding company for the group, Taurus Holding.
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