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MD departs troubled German media fund

Beleaguered German private media fund VIP Medienfonds has been dealt another blow with the sudden departure of managing director Dirk Specht from the company. Specht had been brought to VIP in March 2006 to take over responsibility for the finances and controlling of the VIP funds and he was the sole manager of VIP's operations from June last year after Andreas Grosch was forced to step down. Specht's contract with VIP was terminated on Tuesday 'with immediate effect' ...

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