More strife at EM.TV

NOVEMBER 28, 2001

More strife at EM.TV

THE finance director of EM.TV Marius Schwarz has quit the operation after only three months in the job, having fallen out with the new boss Werner Klatten over whether or not EM.TV should sell its remaining shares in SLEC, the Formula One group holding company, to the Kirch group. EM.TV still holds 16.7% of SLEC. The deal was blocked by Klatten and the departure of Schwarz is a sign that he wants to remain independent of Kirch and that there is still no deal which will see Kirch take over the shares.

Negotiations are continuing.

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