Georg Kofler, managing director of German pay-TV platform Premiere has more than doubled his shareholding in the subscription service.
Kofler's stake has risen from 10.19% to 20.46%, meaning he is now the second largest shareholder after the investment group Permira which will now hold a 54.76% interest.
The interests of the other shareholders remain as before, with Bayerische Landesbank and HypoVereinsbank each holding 10% and the Austrian Bank fuer Arbeit und Wirtschaft (BAWAG) with 3.5%.
Premiere's CFO Michael Boernicke and director of programmes Hans Seger each hold 0.64%.
Commenting on the sale of shares by Permira to Kofler, Permira's Martin Weckwerth said: "We place great emphasis on the fact that the management is also committed entrepreneurially. The step by Herr Kofler is a good signal for Premiere and proof of continuity at the top of the company."
Last week Premiere predicted that platform's break-even point would be reached in the first quarter of 2004 (ScreenDaily.com, August 7 2003).