The collapse of German media mogul Leo Kirch's empire was sealed on Wednesday with the filing for insolvency of two more divisions of the KirchGroup
Management holding TaurusHolding and the KirchBeteiligung unit which holds shareholdings in other companies such as Axel Springer Verlag and Formula 1, both sought protection from creditors in a Munich court.
(TaurusHolding holds a 73% interest in KirchMedia , 70% in KirchPayTV and 100% in KirchBeteiligung).
The move came after news that Kirch had filed another holding company - Formel Eins Beteiligungs GmbH - for insolvency on Tuesday.
Two other divisions: Kirch Media and KirchPayTV both sought protection from creditors in court filings in April and May respectively.
Meanwhile, the beleaguered Premiere pay TV platform looks set to receive an urgently needed Euros 100m cash injection from the Bayerische Landesbank and HypoVereinsbank which will allow it to keep operations going until new investors come onboard.