Motor Presse to take over car TV channel
Jörn Krieger | 11-11-2013
German publishing house Motor Presse Stuttgart will take over 41% of the shares in Motor Presse TV from TV entrepreneur Jörg Schütte on 1 January 2014 making it the majority stakeholder with 51% in the joint venture.
Schütte will keep 49% in Motor Presse TV, which was founded in 2009, and head the company in conjunction with Norbert Lehmann, chief financial officer of Motor Presse Stuttgart.
Motor Presse TV operates the pay-TV auto motor und sport channel which reaches more than 900,000 subscribers in German-speaking countries. The channel launched an HD version in 2011.
auto motor und sport channel is also distributed in Eastern Europe and the Benelux countries, partially in local language versions. It also licences programmes to China and Russia and produces TV and video content for its own platforms as well as those of third parties.
The acquisition of the majority by Motor Presse Stuttgart is still subject to approval by the German media authorities.