The private equity division of Lehman Brothers, which is already an investor in KirchMedia and Kirch PayTV, has emerged as a bidder for KirchMedia, the German media rights and broadcasting unit of Kirch Gruppe which filed for insolvency earlier this year.
The Financial Times reports that Lehman Brothers has joined forces with existing Kirch shareholder Mediaset of Italy alongside the investment vehicle of Saudi investor Prince Al Waleed to bid for the assets, which are being sold by the collapsed KirchMedia empire.
