Sky D fires back at Constantin Medien

May 19, 2014 10.16 Europe/London By Jörn Krieger

Sky DeutschlandGerman pay-TV broadcaster Sky Deutschland considers the cancellation of the agreement with German media company Constantin Medien to be invalid and wants to stick with the planned complete take-over of production company Plazamedia and the share acquisition in sports broadcaster Sport1 and marketing company Constantin Sport Marketing.

Sky Deutschland still intends to close the transaction based on the binding terms and conditions agreed in December 2013, the subscription broadcaster announced in Munich.

Earlier this morning, Contantin Medien reported that it has decided not to continue the negotiations with Sky Deutschland as no consent could be reached on the conditions of a new multi-year framework production agreement between Sport1 and Plazamedia. This would, however, have been a precondition for closure of the €57.5 million deal with Sky Deutschland.