KirchPayTV Unit Files for Bankruptcy
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Associated Press
Kirch Group’s unprofitable pay television unit filed for bankruptcy protection, completing the collapse of Germany’s biggest commercial broadcaster after it piled up debt in an ill-fated expansion drive.
The Premiere subscription channel said the filing is the only chance to find new investors.
The bankruptcy of Munich-based KirchPayTV, which owns Premiere, comes a month after that of KirchMedia, which controls the group’s free TV stations and film-rights library.
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