New Premiere strategy
New Premiere CEO Michael Börnicke is promising a change of direction for the German pay-TV operator, radically different from his predecessor Dr Georg Kofler. “He went for 100 metres in 10 second, I am more the type of a marathon walker and go for long-term results”, he said in one interview. The three building blocks for Premieres future are football, HD and the new Premiere Star DTH platform. Börnicke said he is aiming for a long term operating margin of between 20 and 30%. 47-year old Börnicke, Premiere’s former CFO, entered the TV business at ProSieben Television in January 1992 following a career at HypoVereinsbank in Munich. Together with Dr Kofler he saw the transition of ProSieben into Germany’s most profitable TV company. The two took the company public in July 1997, a feat they were to repeat at Premiere in March 2005, having both joined the pay-TV company in January 1998. Last week, Dr Kofler disposed of all of his 1.25% shareholding in the company.
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