Media giants’ F1 buy-in passes final hurdle

The Federal Cartel Office says it is satisfied that Kirch's planned US$1 billion purchase of another 25 percent stake in Ecclestone's family-owned SLEC trust would not give it exclusive control of broadcasting rights in Germany. Fears had been voiced by the motor manufacturers involved in F1 that Kirch and EMTV would use their majority holding to engineer F1 into an exclusively pay-per-view sport.

The sport's governing body, the FIA, has also given the deal an okay, meaning that Kirch and EMTV are free to complete the formalities that will see the companies owning 75 percent of SLEC between them.

The car makers themselves are still interested in securing a stake in SLEC, and Kirch and EMTV have already expressed an interest in off-loading a percentage, but doubts are said have been raised over the viability of such a deal.

IN this week's Autocar magazine, a Ferrari insider said: "The car makers want a share in SLEC at a realistic price, but there are many who believe that Bernie Ecclestone has put too high a price tag on such an investment. We don't have to buy in."

Kirch is set to place former Philip Morris executive Walter Thoma on the SLEC board, according to the Financial Times newspaper.

The 64-year-old former head of European operations at Philip Morris, who will be one of six Kirch representatives on the SLEC board, was instrumental in bringing Marlboro into F1 and also worked with F1 boss Ecclestone on his aborted plan to float the business on the stock exchange.

Thoma's appointment is believed to be in an attempt to increase the car manufacturers' confidence in Kirch's role in and plans for SLEC.