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By: Xeba73
@ 2013-01-21 05:34:07
Leo Kirch (1926-2011) was a German media mogul and head of the Kirch Media Group.
During the 1990s he set up the subscription television service Premiere and became a key player in sports broadcasting rights, paying massive amounts for the rights to the German Bundesliga. In addition, in 1996 he purchased the rights to the 2002 and 2006 FIFA World Cups for some €1.9 billion and purchased the rights to Formula One for €1.5 billion.
However, the Kirch Group declared itself insolvent in 2002.
German sources estimated Kirch's net worth at €300 million in 2010.