Kirch said its sports rights unit TaurusSport had agreed to buy 95 percent of CWL, which sells advertising for the German Soccer Federation and European television rights for a number of foreign soccer clubs including Belgium, Malta and Israel.
In addition, CWL sells television rights and advertising for the IIHF ice hockey world championships, the European Hockey League and European Handball Federation results.
According to the terms of the deal, which Kirch said had already won the approval of the German cartel office, five percent of CWL will remain with Swiss investor Ernst Mueller-Moehl.
Financial details were not released.
Reuters
