 EM.TV May Sell Its Shares to the Car Makers Friday August 3rd, 2001 German media company EM.TV have indicated this week that they could be ready to sell their stake in the commercial and broadcasting side of the sport, sparking rumours that the future of Formula One could be resolved soon. EM.TV and fellow German media group Kirch control 75 percent of Formula One ringmaster Bernie Ecclestone's SLEC holding company, which owns the commercial and broadcasting rights to the sport. However, EM.TV, who bought into SLEC 18 months ago for a reported $1.85 billion (USD), could be forced to sell their share after recent slumps in their own company shares' performance. That in turn will interest the European Car Manufacturers Association (ACEA), who have threatened to set up a rival series when the current Concorde Agreement (which governs the running of the sport) expires in 2008, becuase they want more input in the commercial running of the sport. The ACEA, made up of Fiat, Ford, DaimlerChrysler, Renault and BMW, could be one of the potential buyers of EM.TV's share if they decided to sell.
Published at 14:12:40 GMT
| ||||||
(03-11-2005): 
