Though terms of the acquisition were not disclosed, Crispin Davis, chief executive of Aegis, told the Reuters news service the price was about $5 million.

"They made it totally clear to me that anything with 49 in it was a bridge too far," he told the Reuters news service today.

"We have a different economic development in Germany and Europe," Mr. Meister told the Reuters news service.

"The solution came in a flash," Mr. Mirrlees told the Reuters news service yesterday.

BDDP told the Reuters news service yesterday that it would not comment on reports that an acquisition was likely.

"It's fast money in weak hands," he told the Reuters news service.

"I feel bad for Yo-Yo Ma going to No. 2," he told the Reuters wire service.

The changes are expected to cost the company $100 million in the first two or three years, a spokesman told the Reuters news service.

Canal Plus, however, told the Reuters news service that it had not signed a deal to reduce its stake.