Constantin selling Creation Club to Premiere

German media company Constantin Media is selling its advertising, promotion and formats business Creation Club to pay-TV platform Premiere. If anti-trust approval is forthcoming, the deal will close at end-June.

Constantin, formerly known as EM. Sport Media, is offloading the unit as it is heavily reliant on Premiere for business under a contract running to 2012. However, Premiere plans to take a raft of outsourced functions in-house and there was a question mark as to whether the Creation Club contract would be renewed. Creation Club is part of Constantin’s production subsidiary Plazamedia. Financial details have not been disclosed. “Silence was agreed on the purchase price,” Constantin said.