Turner buys into Premiere Star

[SAT-WORLD]

Turner buys into Premiere Star


US television company Turner Broadcasting System (TBS) has bought an 8.5 per cent stake in German pay-TV platform Premiere Star.

The shares were acquired from main shareholder Premiere, TBS announced in Berlin, without revealing details on price. According to industry sources, a low two digit million euro amount was paid. After Premiere and HVB Capital Partners, the investment division of UniCredit’s German subsidiary HypoVereinsbank, the TV branch of US media company Time Warner is the third largest shareholder in Premiere Star, which currently markets 34 channels via the subscription packages Premiere Thema and Premier Star. TBS channels Cartoon Network, Turner Classic Movies and Boomerang have been part of Premiere Star’s portfolio since the platform’s launch on 1 September 2007.

The bouquet, which is offered to satellite households in Germany and Austria via Astra (19.2° East), has so far been able to win more than 170,000 subscribers. “The investment in Premiere Star shows again how important the German market is for Turner and that we believe in the growth potential,” said Jeff Kupsky, TBS president for Europe, the Middle East and Africa.


Source:Rapid Tv News