German pay-television broadcaster Sky Deutschland has agreed a deal to take over Constantin Medien’s sports production subsidiary Plazamedia and acquire minority stakes in the media company’s German sports broadcaster Sport1 and Constantin Sport Marketing division.
The takeover of Plazamedia includes the production company’s Swiss and Austrian subsidiaries. Sky Deutschland has acquired a 25.1-per-cent stake in both Sport1 and Constantin Sport Marketing.
The total value of the transaction is €57.5m ($78.6m).
The agreement between Sky Deutschland and Constantin Medien was signed yesterday (Thursday) and the deal is expected to be closed in the first half of 2014, subject to antitrust and regulatory approvals. Constantin Medien added that the transaction is also contingent on the conclusion of a “new multi-year production framework contract” between Sport1 and Plazamedia.
Constantin Medien, which also owns the Team Marketing agency, announced a management reshuffle last month, with Olaf Schröder and Robin Seckler promoted to the top management of Sport1 and Matthias Kirschenhofer becoming managing director of entertainment at Constantin Sport Marketing.