MARCH 1, 2001
No paying for F1 TV - Kirch
KIRCH-EM.TV purchase of a 75 per cent stake in Formula One will not signal a complete transfer of Formula One racing to pay-per-view television, the German media company revealed on Wednesday.
The group, which joined forces with EM.TV to hold a 50 per cent share in Bernie Ecclestone's Formula One holding company SLEC, will now buy a further 25 per cent stake in the controlling shareholding.
"Under the agreement with Kirch we will exercise the option today," said a spokesman for EM.TV on Wednesday.
"There is no interest in letting the Formula One into [German] pay television."