The insolvency administrator of KirchMedia, Michael Jaffe, has sold subsidiary Beta Film with its 15,000 hours of international film and television programmes to former Kirch Group manager Jan Mojto's rights trading operation EOS Distribution.
According to Jaffe, it was "particularly pleasing that, apart from the assets, the whole company with all of the jobs could be sold and thus preserved."
The deal with EOS Distribution, worth a reported $60m - $70m, comes after a failed attempt in February to sell the company to investment company Bridgepoint.
Previously, the ProSiebenSat.1 group had secured access to 2,000 of the most interesting titles from the Beta library for use in its schedules.
Jaffe pointed out that negotiations are still underway on the sale of the library of national film rights which he regards as "one of the last remaining large assets of Kirch Media."