Constantin calls off Sky Deutschland deal
May 19, 2014
Constantin Media has ended to talks with Sky Deutschland, which wanted to acquired the group’s production house Plazamedia as well as its stake in the Sport1 channel and associated sports marketing business.
The proposed deal would have seen Sky Deutschland acquire 100 per cent ownership of Plazamedia and a 25.1 per cent interest in Sport1/Constantin Sport Marketing for €57.5 million.
Constantin said that the deal was subject to factors including a new production agreement being reached between Plazamedia and Sport1, but that has not happened.
Bernhard Burgener, CEO of Constantin, commented: “After long negotiations we had to come to the result that the conclusion of a new production framework contract with economically acceptable terms for both sides is not possible.”