The U.S.-based private equity company KKR & Co. has acquired Germany’s Tele München Group (TMG), which has a presence in film and TV production as well as distribution arms in the theatrical, home entertainment, TV and VOD segments.
Dr. Herbert G. Kloiber, who took control of TMG 42 years ago, will serve as a member of the advisory board in the new platform created by KKR & Co. He will also remain a member of the executive board of Odeon Film until the company’s annual shareholders meeting in July. Herbert L. Kloiber will continue to serve as managing director of all core business units of Tele München Group.
Dr. Herbert G. Kloiber said: “First of all, I’d like to thank the fantastic, longterm TMG employees and our partners. In particular, I’d like to thank ZDF, which has been the greatest partner from 1970 (The Seawolf) until today (Der Staatsanwalt). I entrust the company to an experienced and seasoned financial investor, who has deep knowledge of the international media market and has assigned Fred Kogel, an expert in the business, to ensure TMG’s growth and prosperity.”
Philipp Freise, member and head of the European technology, media and telecommunications industry team at KKR, commented: “Thanks to Dr. Kloiber for the trust in us to further develop this great company. We are excited to partner with TMG to create something new in the film and TV business: A platform that covers the entire value chain from film set to cinema and TV and which we will build-out further through acquisitions.”