Berlusconi's company gains control of over 75% of ProSiebenSat.1 Media
In a significant move for the European media landscape, MediaForEurope (MFE) has secured a majority stake in ProSiebenSat.1 Media SE. The Czech PPF Group, a former major shareholder, has sold its 15.68% stake to MFE, pushing the latter's ownership to 75.61%.
This development follows MFE's persistent efforts to increase its stake, which initially aimed to reach 29.99%, but ended up at 18.4%. The PPF Group's inability to achieve the desired ownership likely led to their decision to sell their shares.
With the new majority control, MFE can now include ProSiebenSat.1's revenues and profits in their own balance sheet. This move positions MFE to compete more effectively with US streaming giants like Netflix and Amazon Prime.
MFE's strategy for ProSiebenSat.1 involves a focus on home productions, with an emphasis on news, entertainment shows, and TV series. The company also plans to reduce the number of purchased formats and instead focus more on local offerings.
The remaining shares of ProSiebenSat.1 are primarily held by institutional investors in the Netherlands, USA, Germany, and France. Around 51.4% of these shares are in free float, meaning they are publicly traded and not held by major shareholders. This opens up the possibility for MFE to buy shares on the market in the future.
The acquisition of ProSiebenSat.1 allows MFE to begin the planned restructuring of the German TV group. MFE's long-term strategy with ProSiebenSat.1 includes the ambition to build a European broadcasting and media group.
It's worth noting that MFE's holding company is active not only in Germany but also in Italy and Spain. The Berlusconi family, who own MFE, have been increasing their stake in ProSiebenSat.1 since 2019.
The PPF Group has announced its intention to wind down the remaining financial instruments in ProSiebenSat.1, marking the end of their involvement with the company. The acquisition of a majority by MFE also marks the end of the takeover offer to ProSiebenSat.1 shareholders.
This development continues the ongoing effort to build a European broadcasting and media group under the leadership of MediaForEurope.
Read also:
- Antitussives: List of Examples, Functions, Adverse Reactions, and Additional Details
- Asthma Diagnosis: Exploring FeNO Tests and Related Treatments
- Newborn perishes due to rat bite at government hospital in Madhya Pradesh; Chief of MYH attributes deaths to 'congenital anemia'
- Florida planning to eliminate all mandatory vaccinations for children
