Latest news with #ProSieben
Reuters
28-05-2025
- Business
- Reuters
Prosieben CEO stands by company strategy amid investor clash
May 28 (Reuters) - Prosiebensat.1 ( opens new tab CEO Bert Habets defended the German media company's renewed focus on its entertainment segment in a speech to the company's investors on Wednesday. "I am confident that we are on the right track to achieving our goal: becoming the number one entertainment player in the German-speaking region," Habets said. He added that after the divestiture of online comparison platform Verivox, the company would continue to focus on the sale of well-performing non-core assets, for instance online perfume retailer Flaconi. The company's annual general meeting comes against the backdrop of a power struggle between the company's two biggest shareholders, Italy's MFE-MediaForEurope ( opens new tab and Czech investment firm PPF. Habets did not address the rival takeover offers in his speech. The boards of ProSieben advised against MFE's bid, calling it "inadequate from a financial perspective". This stance was repeated by Andreas Wiele, outgoing chairman of the supervisory board, during a speech to the company's investors. "The supervisory board is the appropriate body to discuss, together with the executive board, the right strategy and new ideas for our company and where decisions should be made - not the public," Wiele said, addressing MFE directly. The Berlusconi family, which currently holds 30.14% in ProSieben, made a low-ball offer for the company in March, offering 4.48 euros in cash and 0.4 MFE A shares per ProSieben share.
Reuters
23-05-2025
- Business
- Reuters
Czech group PPF open to teaming up with Berlusconis' MFE on ProSieben bid, sources say
LONDON, May 23 (Reuters) - Czech investment group PPF could consider teaming up with MFE-MediaforEurope ( opens new tab, the company controlled by Italy's Berlusconi family, to bid for German broadcaster ProSiebenSat.1 ( opens new tab, two people close to the matter said. MFE, which runs commercial TV operations in Italy and Spain, made a low-ball cash and share bid for ProSieben in March as part of a push to create a pan-European broadcaster, a strategy resisted by the German firm which wants to remain independent. PPF, whose 14.94% stake makes it ProSieben's second-biggest shareholder after MFE with 30.14%, earlier this month offered to buy ProSieben shares at a 21% premium to the price implied by MFE's bid, aiming to reach an up to 29.99% holding. The move, which was welcomed by ProSieben, complicates plans by MFE to tighten its grip on the Bavaria-based company. However, PPF, which owns private TV stations across six Eastern European countries, is open to considering a joint bid with MFE among options under review for ProSieben, although no decision has been made yet, the people said. PPF has not approached MFE about teaming up and there haven't been contacts between the two companies, the sources said. MFE and PPF declined to comment. MFE is also reviewing its options after PPF's bid, including a potential increase of its own 950-million-euro ($1.1 billion) offer, which was pitched at the minimum level allowed by German takeover law, sources told Reuters last week. On Thursday, ProSieben advised shareholders against MFE's "inadequate" takeover bid. Having already crossed a 30% threshold which triggers a mandatory full takeover under German law, MFE will be free to buy additional shares on the market once its current bid lapses. MFE saw PPF's offer as a way to increase its sway over ProSieben and potentially boost its bargaining power with MFE in the future, sources have previously said. Any potential joint bid would require PPF and MFE to find common ground on how to run ProSieben, which could be a sticking point for MFE as the Milan-listed company wants to play a leading role at the German firm, a third source said. ($1 = 0.8828 euros)
Reuters
14-05-2025
- Business
- Reuters
MFE weighing raising offer for ProSieben in response to PPF, source says
MILAN, May 14 (Reuters) - MFE-MediaForEurope ( opens new tab, the TV broadcaster controlled by Italy's Berlusconi family, is considering raising its offer for Germany's ProSiebenSat.1 ( opens new tab, a source close to the matter said on Wednesday. The move, one of many options being considered on which no decision has yet been made, would be in response to Czech investment group PPF saying this week it would raise its stake in the German broadcaster, the source said. MFE declined to comment. MFE, which has commercial TV operations in Italy and Spain, made a low-ball bid for ProSieben in March as part of its plan to create a pan-European broadcaster. Analysts say PPF's move complicates MFE's efforts to tighten its grip on ProSieben. The German company, which wants to remain independent, has welcomed PPF's decision. MFE held a board meeting on Tuesday, after which a source close to the company said it remained committed to strengthening its role as the leading investor in Prosieben. PPF, the second-biggest shareholder with 14.94%, said on Monday it would buy more shares at 7 euros each, to acquire a stake of up to 29.99%. MFE owns 30.14% of ProSieben. PPF is offering a 17% premium over Friday's closing price and a 21% premium to the price implied by MFE's cash-and-share bid.
Reuters
13-05-2025
- Business
- Reuters
MFE board to discuss PPF's move for ProSieben on Tuesday, sources say
MILAN, May 13 (Reuters) - MFE-MediaForEurope ( opens new tab, the leading shareholder in ProsiebenSat.1 ( opens new tab, will discuss at a board meeting on Tuesday a move by Czech investment group PPF to raise its stake in the German broadcaster, two sources said. MFE, which is owned by the Berlusconi family and has commercial TV operations in Italy and Spain, made a low-ball bid for ProSieben in March under plans to create a pan-European broadcaster. Analysts say PPF's move complicates MFE's efforts to tighten its grip on ProSieben. The German company, which wants to remain independent, has welcomed PPF's move. MFE will update directors on the situation on Tuesday, the people said, while no immediate response to PPF is expected. PPF, the second-biggest shareholder in ProSieben with 14.94%, said on Monday it would buy more shares at 7 euros each, to acquire a stake of up to 29.99%. MFE owns 30.14% of ProSieben. PPF is offering a 17% premium over Friday's closing price and a 21% premium to the price implied by MFE's cash-and-share bid. MFE at present sees PPF's bid mostly as a defensive move, aimed at increasing its sway over ProSieben and potentially allowing it to negotiate better with MFE in the future, the sources said. However, MFE is not expected to start any talks with PPF at this stage, the sources said. MFE and ProSieben declined to comment. PPF had no immediate comment. MFE has said it is not aiming to secure majority ownership of ProSieben with its bid. However, once the offer runs its course, MFE will have its hands free to buy more shares on the market having already crossed the 30% threshold which triggers a buyout offer under German law. MFE expects its bid, due to end in June, to be extended, possibly to the end of the summer because of rules dictating that the two offers need to run in parallel and end at the same moment, the sources added.
Yahoo
12-05-2025
- Business
- Yahoo
ProSiebenSat.1 Media Investor PFF Offers Shareholders Alternative To MediaForEurope Takeover Bid
The latest twist in the ongoing tussle over ProSiebenSat.1 Media's future sees Czech investor PPF seeking to double its stake in the German broadcasting giant, challenging an existing takeover bid from MediaForEurope (MFE). PPF IM – currently ProSieben's second-largest shareholder – has made a public acquisition offer to increase its shareholding from around 15% to 29.99%, the most it can own without needing to launch a mandatory takeover bid. This is an all-cash offer of €7 a share for a currently undetermined amount of shares, which PPF noted was a 17% premium on the share price. More from Deadline ProSiebenSat.1 Media Cutting 430 Roles As Shareholders Jockey For Position Roku Acquires Streaming Bundle Service Frndly TV For $185M French Giant Banijay Enters Race To Buy ITV According to ProSieben, which announced the offer this morning, PPF has 'confirmed its full support for the company's strategy.' Both PPF and ProSieben called the offer an alternative to the lowball takeover bid leading shareholder MFE announced in March, and the Czech company noted its offer is offers 21% better value than that of its rival. The acceptance period on the MFE offer opened Friday. ProSieben's board, led by Group CEO Bert Habets, has been repositioning the company as a digital-first entertainment business built around European streamer Joyn. However, both PPF and leading shareholder MFE, the Berlusconi family media business that owns 30.14% of shares, have previously questioned the pace of change and urged the disposal of non-core assets in the dating and e-commerce spaces. The two investors had previously worked in lockstep, attempting to force change last year. However, PPF CEO Jiří Šmejc recently said he had not seen the MFE offer in full and would reveal his position once that was clear. It's apparent now that PPF doesn't think too highly of the bid. ProSieben said today PPF offer is not a precursor to a separate takeover bid. Instead, the company claims it will provider other shareholders with a way to cash in on short-term investments and is a 'better all-cash alternative' to MFE's offer. PPF will also seek more representation on the board in a bid to have a more hands-on management position. 'PPF has been a long-standing investor in ProSiebenSat.1 having a deep understanding of our business,' said Habets today. 'The executive board is supportive of PPF's increased commitment to ProSiebenSat.1, as evidenced by the terms of its offer, and appreciates its support for our digital transformation strategy.' It looks like the plan to sell e-commerce platform Verivox as part an agreement unveiled in March, which saw ProSieben buy the minority stakes of U.S.-based private investor General Atlantic in dating platform ParshipMeet and digital firm NuCom Group (excluding perfume e-retailer Flaconi), has appealed to PPF. The agreement saw General Atlantic take a 2.5% stake in ProSieben, which was lower than the 10% some were expecting. ProSieben is now in process of selling Verivox to Italian company Moltiply and is planning to divest dating service ParshipMeet and other non-core digital services. ProSieben has also continued to cut costs. Habets last week announced ProSieben would be cutting 430 roles as the tough financial outlook for European media groups continues. The company is aiming for full-year 2025 revenues of €4B ($3.4B), according to a full-year filing in March. PPF boss Šmejc said: 'We put forward a compelling all-cash offer and intend to take a much more active role in the Supervisory Board going forward. We hope that this is appealing to shareholders and stakeholders alike and paves the way for unlocking the potential of ProSiebenSat.1.' Didier Stoessel, Chief Investment Officer of PPF Group, added: 'We are a long-term investor and reliable partner to the companies we have invested in. Despite ProSiebenSat.1's challenges and the turbulent market environment, I believe that the ProSiebenSat.1 management has the right strategy in place, which we fully support. I also believe that there is a general alignment among all stakeholders to divest non-core assets at the right valuation and execute the much-needed digital transformation of the core media segment. 'With a stronger shareholding and proportionate Supervisory Board representation, we will be in a position to more actively support the ProSiebenSat.1 management with our experience, namely in the digital revitalization of linear TV business models.' Former Paramount and ITV Studios international chief Maria Kyriacou could play a key role in the future of ProSieben, having been put forward as a candidate to replace the outgoing Andreas Wiele as Chair of the ProSieben Supervisory Board last month. MFE, owner of Mediaset in Italy and Spain, wants to build a European TV giant that can stand up to U.S. streaming services. Best of Deadline 2025 TV Series Renewals: Photo Gallery 2025 TV Cancellations: Photo Gallery All The Songs In Netflix's 'Forever': From Tyler The Creator To SZA Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
