German media group Helkon Media is now practically nothing more than a name after the insolvency administrator Axel W. Bierbach sold the bulk of the film library to the Hamburg-based investment company Aurum Beteiligungs- und Verwaltungs GmbH.

The asset deal was greenlit by Helkon's creditor banks and the creditors committee, and both parties agreed to maintain a silence on the purchase price.

This latest nail in the bankrupt group's coffin comes some six months after two of Helkon's production divisions - Kinofilm Muenchen Filmproduktion and the Vienna-based associated company Helkon Media Gesmbh - also filed proceedings for insolvency.