Constantin cancels Plazamedia & Sport1 sale to Sky D

May 19, 2014 08.43 Europe/London By Jörn Krieger

Constantin MedienGerman media company Constantin Medien has decided not to continue the negotiations with pay-TV broadcaster Sky Deutschland regarding the transaction agreed on December 5, 2013.

The agreement comprised the sale of 100% of the shares of production company Plazamedia as well as the sale of 25.1% of the shares of TV broadcaster Sport1 and marketing company Constantin Sport Marketing.

The transaction with a total volume of €57.5 million was subject, among others, to the conclusion of a new multi-year production framework contract between Sport1 and Plazamedia. But no agreement has been reached on this arrangement.