{"id":10817,"date":"2009-06-15T00:00:00","date_gmt":"2009-06-15T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-funds-buy-up-german-tv-firms-debt","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/06\/2009\/hedge-funds-buy-up-german-tv-firms-debt.html","title":{"rendered":"Hedge funds buy up German TV firm&#8217;s debt"},"content":{"rendered":"<p>Independent &#8211; Hedge funds Apollo and Octavian have been quietly building up a position in ProSieben, one of Europe&#8217;s biggest commercial broadcasters. The move could lead to a showdown with private equity owners Permira, the Damon Buffini-run giant, and Kohlberg Kravis &amp; Roberts (KKR). Lord Hollick, who was chief executive at former <em>Daily Express <\/em>owner United Business Media, represents KKR on the ProSieben board. <\/p>\n<p>It is understood that Apollo and Permira have been buying the struggling German broadcaster&#8217;s debt on the cheap. Sources suggested that the pair had been paying only around 30cents for every euro of debt, allowing them to become, in effect, major creditors. &quot;Apollo and Octavian have been buying up debt that is trading at distressed levels and I can see them taking on Permira and KKR over the direction of ProSieben,&quot; said a source. <\/p>\n<p><strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.independent.co.uk\/news\/business\/news\/hedge-funds-buy-up-german-tv-firms-debt-1704570.html\">Read Complete Article<\/a><\/strong><\/p>\n<p><strong><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/www.independent.co.uk\/news\/business\/news\/hedge-funds-buy-up-german-tv-firms-debt-1704570.html\"><\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Independent &#8211; Hedge funds Apollo and Octavian have been quietly building up a position in ProSieben, one of Europe&#8217;s biggest commercial broadcasters. The move could lead to a showdown with private equity owners Permira, the Damon Buffini-run giant, and Kohlberg [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15,4],"tags":[2410,7725,13052,67,13050,8617,2839,13048,13053,13049,9960,11708,13054,4119,13047,13055,13057,13056,13051],"class_list":["post-10817","post","type-post","status-publish","format-standard","hentry","category-private-equity","category-syndicated","tag-amp","tag-apollo","tag-cheap-sources","tag-chief-executive","tag-commercial-broadcasters","tag-creditors","tag-daily-express","tag-damon-buffini","tag-equity-owners","tag-german-broadcaster","tag-giant","tag-hedge-funds","tag-hollick","tag-kkr","tag-kohlberg-kravis","tag-octavian","tag-permira","tag-prosieben","tag-united-business-media"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=10817"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10817\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=10817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=10817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=10817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}