TMG MD exits ahead of merger

The MD of Tele MünchenGroup (TMG) in Germany is leaving the firm as it merges with Universum Film, i&u TV and Wiedemann & Berg Film to form a new company.

Herbert Kloiber Jr

Herbert Kloiber Jr will leave the newly founded media company at his own request and by mutual agreement today, the as-yet-unnamed firm said.

It is being established by New York-based investment firm KKR following its spree of acquisitions that began when it bought TMG from its founder, Kloiber Jr’s father Herbert G Kloiber, in February.

“We respect his decision to reorient himself after the change of ownership at Tele München Group,” TMG CEO Fred Kogel said of Kloiber Jr’s exit. “It comes at the right time. We wish him all the best and look forward to having the opportunity to work together again in a different constellation.”

Kloiber Jr added: “An ideal time has come for me to break new ground in a future-oriented way. I am proud to have positioned our group at the forefront of digital exploitation, built up OTT services such as Filmtastic and increased international coproduction with successes such as The Name of Rose. I would like to thank all employees of Tele München Group [and] our business partners, and wish the new management good luck and success for the future.”

The company plans to buy and produce feature films, series and TV shows and exploit this content across theatres, digital services, home entertainment and TV channels.

Last month it added Studio71 co-founder Christian Meinberger as chief digital officer and earlier this week appointed Bernhard zu Castell as chief distribution officer.