It could be the comeback of the year. Six weeks after making an eleventh hour exit from the bidding for the insolvent KirchMedia, US media tycoon Haim Saban could be back in the picture.
According to German press reports this weekend, Saban has rallied the support of a group of financial investment companies to approach the KirchMedia creditor banks with a new offer for a majority stake in the core business of ProSiebenSat.1 Media.
At the same time, Financial Times Deutschland suggested that investment companies like Hellmann & Friedmann, Thomas H. Lee and Permira could submit a bid by themselves.
Any deal to acquire the majority stake in ProSiebenSat.1 would now be much simpler since the broadcasting group signed an agreement securing it access to key film titles from the Kirch library for the next ten years.
This would mean that any prospective bidder would not also have to acquire the Kirch film library in order to guarantee future film supply.