Atlas F1 News Service, a Reuters report

Kirch to Take More of EM.TV's F1 Stake

Monday April 30th, 2001

German media group EM.TV and Merchandising AG said on Monday its stake in Formula One holding SLEC would fall to 17.5 percent as of September 2001 when its partner Kirch's stake will rise to 57.5 percent.

EM.TV Chief Financial Officer Rolf Rickmeyer told a news conference that Kirch's financing of around $1 billion to buy an extra 25 percent in SLEC in February gave Kirch the right to increase its share of their combined 75 percent SLEC stake.

EM.TV and Kirch both currently hold 37.5 percent of SLEC, the group which controls the commercial and broadcasting rights to Formula One.

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