Hamburg-based record company Edel Music intends to take over 16 per cent in German music channel Viva. According to chairman Michael Haentjes, Edel considers its investment in the Cologne-based channel as a valuable strategic and long-term participation. He said that he expected the value of his company’s share to increase enormously during the next years. Viva was created in 1993 by major record and music companies EMI, Warner, Universal and Musik im Fernsehen. Edel’s entry is made possibly by Sony’s planned withdrawal as a Viva shareholder. Sony has been opposing the planned flotation of the channel. After the transaction which is subject to approval by the media authorities, EMI, Warner and Universal will each hold 24.9 per cent in Viva, Edel 16 per cent and Musik im Fernsehen 9.3 per cent.
