The firm won an order in Jersey preventing three banks - BayernLB, JP Morgan and Lehman Brothers - from taking control of the 16.7 percent stake.
The shares were exposed after Kirch bailed EM.TV out last year, with EM.TV pledging control of its SLEC shares in return. But when Kirch collapsed earlier this year, the banks took over controlling interest in the company.
Said an EM.TV statement: "This means that the Formula One banks are unable to enforce their purported security pending determination by the Jersey courts of the issues as to the validity of that security raised in the proceedings by EM.TV last month.
Meanwhile, telecommunications firm Orange has confirmed it has no plans to continue any association with Formula One next season after ending its association with Arrows.
Orange pulled out of its deal with Arrows as the team slipped into financial trouble, prompting suggestions Orange may continue with Formula One in another capacity.
EM.TV has also confirmed plans to buy the German sports channel DSF, owned by the bankrupt KirchMedia.
EM.TV is partnering with retail group Karstadt/Quelle and Swiss entrepreneur Hans-Dieter Cleven to put forward an offer to KirchMedia's administrators.
