Liberty Media faces lawsuit

U.K. investor Klesch & Co. is hopping mad with Colorado, U.S.-based Liberty Media in the wake of the latter's full purchase of six German cable systems. Klesch claims it should have been a 50/50 deal.

August 2, 2001

Liberty Media’s recent purchase of six regional German cable franchises from Deutsche Telekom (for nearly US$5 billion) has led to a lawsuit launched by U.K. investor Klesch & Company. According to New York law firm Kasowitz, Benson, Torres & Friedman (representing Klesch), Klesch claims that the two companies had established a partnership to acquire a controlling interest in the German T.V. assets and is, therefore, entitled to a 50% stake, rather than the 25% share Liberty reportedly offered. Klesch is suing Liberty for fraud, and breach of contractual and fiduciary obligations.

A Liberty Media spokesperson acknowledged the lawsuit, but says the company has no comment at this time. Liberty holds interest in Discovery Communications (49%), Court TV (50%), STARZ! (100%) andE! Entertainment Television (10%), among other programming, communications, technology and

internet businesses.

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About The Author

Barry Walsh is editor and content director for realscreen, and has served as editor of the publication since 2009. With a career in entertainment media that spans two decades, prior to realscreen, he held the associate editor post for now defunct sister publication Boards, which focused on the advertising and commercial production industries. Before Boards, he served as editor of Canadian Music Network, a weekly music industry trade, and as music editor for HMV.com. As content director, he also oversees the development of content for the brand's market-leading events, the Realscreen Summit and Realscreen West, as well as new content initiatives.

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