Press / 2006

Wednesday 20 December 2006

MTV Networks Europe and the management of Brainpool GmbH can confirm that a management buy-out of Brainpool has been agreed.

Both parties would like to thank staff for their patience during these negotiations.

Commenting, Simon Guild, President of MTV Networks Europe, said: "We wish the management and staff of Brainpool all the best for the future. Owning the company was not part of our long-term strategy so we're delighted to have found a resolution which will sustain Brainpool's reputation as one of Germany's top producers.

"MTV Networks Europe remains committed to offering greater programming diversity for German audiences and to producing programming in Germany through the MTV, VIVA and Nickelodeon brands. We're launching Comedy Central Germany on 15 January which will feature a number of original productions, many made in Cologne and it is our intention to strengthen our links with the local production community."

Brainpool CEO Jorg Grabosch said: "Both sides were committed to finding the best outcome for both Brainpool and its employees and I'm delighted to have reached agreement with MTV Networks Europe over the sale of Brainpool."

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