Tele München Group (TMG) has been sold to investment company KKR.

TMG owns Concorde Filmverleih, Concorde Home Entertainment, Clasart Film- and Fernsehproduktions, TM International, and TELE 5 TM-TV. It owns 85 percent of Odeon Film, and holds one third of RTL II, along with Walt Disney/ABC International Television. Herbert G. Kloiber (pictured) will serve as a member of the advisory board on the new platform created by KKR, while Herbert L. Kloiber will continue as managing director of TMG’s core business units. KKR has chosen Fred Kogel for the new platform’s CEO.

Herbert G. Kloiber remarked, “I entrust the company to an experienced and seasoned financial investor, who has deep knowledge of the international media market and has assigned Fred Kogel, an expert in the business, to ensure TMG’s growth and prosperity.”