German banks agree with GPWC

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The three German banks that hold a majority stake in Bernie Ecclestone's SLEC, have agreed to make a deal with the GPWC. The banks took the stakes last year when their client Kirch Media Gruppe came in financial trouble.The car manufacturers on their hand have joined forces to prevent that Formula 1 television would become coded, and therefore not free for the broad public. After the problems with Kirch, the manufacturers resisted that the banks would profit from all the money the manufacturers have invested in F1.Reuters noted that there has been an agreement to solve the issue, and that negotiations have ended. The contract could be signed within a matter of weeks.