Leo Kirch dead
July 15, 2011
Leo Kirch the once all powerful mogul of German media, has died aged 84. At the height of his success in the 1990s, Kirch headed Germany’s second-largest media company, after Bertelsmann.
Kirch created a $5 billion empire that included television channels, movie rights and a stake in Formula 1 car racing. But the group unravelled when an expensive foray into digital pay television failed to pay off. The Kirch group was forced to file for bankruptcy in 2002.