KirchGruppe said no concrete outcome came from yesterday's meeting with creditor banks for its Kirch Media GmbH & Co unit and pay-TV platform Premiere World.
"Yesterday's discussions between the banks, representatives of Kirch and advisors commissioned by Kirch did not produce, as expected, a concrete result," said KirchGruppe in a statement.
"However, the banks have signalled their readiness to quickly consider Kirch's suggestions and make decisions. The talks will be continued constructively," said KirchGruppe.
On Friday, the Sueddeutsche Zeitungreported KirchGruppe would present a comprehensive restructuring programme to its creditor banks in a bid to keep itself afloat.
According to the paper, the restructuring will include hefty job cuts and the closure of loss-making local television channels this year.
Kirch will also seek a buyer for the cable sports channel Deutsche Sportfernsehen (DSF), which is also making losses, the paper said.
Even profitable parts of the Kirch empire will be up for sale if they do not belong to core operations under the programme, it said.
AFP