3 days ago
German league becomes shareholder in streaming service Dyn
The logo of the German Football League (DFL) pictured on the sidelines of a DFL members' meeting at the Wiesbaden Congress Center. Frank Rumpenhorst/dpa
The German Football League (DFL) has become a new shareholder in the streaming service Dyn, a media company owned by former DFL managing director Christian Seifert.
The completion of the transaction is subject to regulatory approvals, Dyn said in a statement on Wednesday.
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In addition to the DFL, retailer Schwarz Group, that operates stores under the Lidl and Kaufland brands, will also acquire a stake in the online broadcasters.
Together with media giants Axel Springer SE and Seifert himself, there will therefore be four shareholders in future.
After leaving the DFL, Seifert worked with Springer to set up Dyn. Its motto to date has been: "Everything except football."
The paid streaming service currently has handball, basketball, volleyball, table tennis and hockey in its catalogue.
The investment of the DFL and the Schwarz Group, "paves the way for the further growth of Dyn Media," Seifert said.
Springer and the Schwarz Group each hold an equal stake of around 42.5%. The two smaller shareholders are Seifert with around 9% and the DFL with around 6.5%.
