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| Kirch Pay TV Unit Files for Bankruptcy by Jeremy at 6:55 am EDT, May 9, 2002 | |||
In a move that will affect Hollywood movie studios as well as the world of soccer, the Kirch Group's pay television company filed for bankruptcy today after negotiations with creditors collapsed. The possible collapse of Premiere, a German pay TV network in which the firm is heavily invested, has already created a financial crisis for German professional soccer. | |||
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