Germany's Kirch Media has acquired News Corp's shares in commercial free-TV channel TM3, and transferred them to EUVIA Media, a 100% subsidiary of the home shopping management and holding company H.O.T. Networks. News Corp has taken a 2.48% stake in Kirch Media as part of the deal.
H.O.T. Networks' chairman Georg Kofler, who is also supervisory board chairman of EUVIA Media, said the company "will now go with creativity and energy to position TM3 successfully in the German television market." He added that the channel will relaunched with in-house produced light entertainment programming this autumn.
Kofler also confirmed that ex-MTV Germany boss Christiane zu Salm will serve as board chairman of EUVIA Media and managing director of TM3 from this spring at the latest. Before then, CFO Thomas Broenauer will stand in as TM3's managing director. Current MD, Marco Deutsch, is leaving the company at the end of January.