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Media Markt co-founder Kellerhals died: On the first Christmas holiday
Erich Kellerhals is dead. He died at Christmas at the age of 78 with his family.
December 28 (Frankfurter Allgemeine) - false
The co-founder of the electronics chain Media Markt, Erich Kellerhals, is dead. "We can confirm that Mr. Kellerhals died on December 25 in the company of his family," said a spokesman for his asset management company Convergenta this Thursday. Previously, several media had reported on the demise of the billionaire. Kellerhals was 78 years old.
The native of Ingolstadt had made headlines because of his
Enduring feud with the Metro Group, to which Media-Saturn once belonged. Since the merger of the retail giant in the summer of this year, the electronics markets are located under the umbrella of the holding Ceconomy.
The roots of Media-Saturn go back a long way. In 1963, Kellerhals and his wife Helga opened a shop for coal stoves and oil stoves as well as bicycles in Ingolstadt. Over the years, more shops were created, mainly selling radios and TVs.
Together with the partners Walter Gunz and Leopold Stiefel, the pair Kellerhals opened in 1979 in a Munich
The dispute between Kellerhals and the Metro leadership ignited under the former CEO Eckhard Cordes and was also continued under his successor Olaf Koch. Essentially, it was about who has the shots at Media-Saturn. Kellerhals saw his life's work threatened. Both parties met regularly in court. Most recently, a mediator was turned on to mediate between the brawlers. An official agreement did not come anymore.
There are now more than 1,000 media
and Saturn markets. The parent company Ceconomy made a good 22 billion euros in sales in the past fiscal year.
The billionaire Erich Kellerhals was involved in the electronics chains Media Markt and Saturn with a good 21 percent. With the main shareholder Metro and later with their separation Ceconomy he was for years in the dispute over the business policy. Recently, representatives of its investment company Convergenta had not signed off the annual financial statements in a shareholder meeting of Media-Saturn.