The German groups KIRCH and EM.TV announced the signing of a definite contract aiming for the firsts entry into the capital of the second. After the transaction, KIRCH will take 16.74% of the capital and a blocking minority of 25% in EM.TV. This operation will enable it to among others accede to the 50% in the SLEC, the holding of Bernie Ecclestone that owns the broadcasting rights for Formula 1 for USD 550 million. In fact, EM.TV holds half the capital of SLEC via its subsidiary SPEED.