The executive and supervisory board of German media group ProSiebenSat.1 on Wednesday rejected proposals by the Berlusconi-backed MediaForEurope (Mfe) group that would have radically restructured the company.
Mfe’s proposals would have seen ProSieben spin off its Dating & Video and Commerce & Ventures operations and appoint new, pro-mfe members to the group’s board.
But ProSieben rejected that, saying while the split up was in the “unique interests of Mfe,” it was “not in the best interests of all shareholders” and that the proposals would result in “direct destruction of value” at the company. ProSieben’s board predicted the move would force down the company’s stock price without impacting its net debt load.
Mfe, which is majority-owned by the Berlusconi family’s Fininvest Group, is already ProSieben’s largest shareholder, controlling just under 30 percent of the shares in the Munich-based company, just short of the threshold that would trigger an...
Mfe’s proposals would have seen ProSieben spin off its Dating & Video and Commerce & Ventures operations and appoint new, pro-mfe members to the group’s board.
But ProSieben rejected that, saying while the split up was in the “unique interests of Mfe,” it was “not in the best interests of all shareholders” and that the proposals would result in “direct destruction of value” at the company. ProSieben’s board predicted the move would force down the company’s stock price without impacting its net debt load.
Mfe, which is majority-owned by the Berlusconi family’s Fininvest Group, is already ProSieben’s largest shareholder, controlling just under 30 percent of the shares in the Munich-based company, just short of the threshold that would trigger an...
- 3/27/2024
- by Scott Roxborough
- The Hollywood Reporter - Movie News
A Succession-style boardroom battle is playing out in Europe.
Germany’s ProSiebenSat.1 Media has rejected a set of proposals from lead shareholder MediaForEurope (Mfe) to restructure the European media giant.
The Berlusconi-family controlled Mfe (formerly Mediaset) submitted a series of motions ahead of ProSieben’s annual general meeting on April 30, which included splitting up the business and changing its capital structure.
ProSieben released a statement today rejecting the proposals, saying they are “not in the best interests of all shareholders.”
Mfe is already ProSieben’s largest shareholder, owning just less than the 30% that would trigger an automatic takeover offer under German business law.
Rumors have been swirling that the Italian company is seeking to quietly take control of the ProSieben board and de facto ownership of the business at a lower cost. Mfe hadn’t responded to a request for comment by press time.
During a bruising 2023 that saw revenues...
Germany’s ProSiebenSat.1 Media has rejected a set of proposals from lead shareholder MediaForEurope (Mfe) to restructure the European media giant.
The Berlusconi-family controlled Mfe (formerly Mediaset) submitted a series of motions ahead of ProSieben’s annual general meeting on April 30, which included splitting up the business and changing its capital structure.
ProSieben released a statement today rejecting the proposals, saying they are “not in the best interests of all shareholders.”
Mfe is already ProSieben’s largest shareholder, owning just less than the 30% that would trigger an automatic takeover offer under German business law.
Rumors have been swirling that the Italian company is seeking to quietly take control of the ProSieben board and de facto ownership of the business at a lower cost. Mfe hadn’t responded to a request for comment by press time.
During a bruising 2023 that saw revenues...
- 3/27/2024
- by Jesse Whittock
- Deadline Film + TV
The saga of Italian Prime Minister Giorgia Meloni splitting from her partner, Mediaset TV personality Andrea Giambruno, after leaked outtakes revealed the anchorman making sexist remarks, is gripping the country amid speculation of political conspiracy behind the incident.
Meloni, who became Italy’s first female prime minister a year ago when her right-wing Brothers of Italy party scored big in the country’s national elections, officially dumped Giambruno — her partner for a decade and the father of their young daughter (pictured above with Pope Francis) — last Friday via social media.
In Facebook and X posts, Meloni alerted the country that she and her partner had been split up “for some time” after Mediaset’s primetime satirical show “Striscia La Notizia” (“The News Spreads”) aired hot mic and video clip footage of Giambruno grabbing his crotch and apparently hitting on his co-anchor and another unidentified woman.
“Can I touch my package...
Meloni, who became Italy’s first female prime minister a year ago when her right-wing Brothers of Italy party scored big in the country’s national elections, officially dumped Giambruno — her partner for a decade and the father of their young daughter (pictured above with Pope Francis) — last Friday via social media.
In Facebook and X posts, Meloni alerted the country that she and her partner had been split up “for some time” after Mediaset’s primetime satirical show “Striscia La Notizia” (“The News Spreads”) aired hot mic and video clip footage of Giambruno grabbing his crotch and apparently hitting on his co-anchor and another unidentified woman.
“Can I touch my package...
- 10/26/2023
- by Nick Vivarelli
- Variety Film + TV
Like a real-life version of HBO’s Succession, Silvio Berlusconi, the late Italian media tycoon and former prime minister, has left the bulk of his estate to his five children.
Berlusconi, who died on June 12, has left combined control of his Fininvest SpA family holding company — which has major stakes in Mondadori, Italy’s largest publisher; film producer Medusa Film; and more — to his eldest children Marina Berlusconi and Pier Silvio Berlusconi.
His oldest heirs will receive an additional 20 percent stake each in Fininvest to take their joint holding to 53 percent. The three younger children also received stakes in Fininvest as Barbara Berlusconi and Luigi Berlusconi continue on as directors of the family holding company.
Fininvest includes controlling stakes in Mediaset, Italy’s biggest commercial broadcaster; Mondari, the country’s biggest publisher; and other communications and entertainment assets.
“Further to the reading of Silvio Berlusconi’s last will and testament,...
Berlusconi, who died on June 12, has left combined control of his Fininvest SpA family holding company — which has major stakes in Mondadori, Italy’s largest publisher; film producer Medusa Film; and more — to his eldest children Marina Berlusconi and Pier Silvio Berlusconi.
His oldest heirs will receive an additional 20 percent stake each in Fininvest to take their joint holding to 53 percent. The three younger children also received stakes in Fininvest as Barbara Berlusconi and Luigi Berlusconi continue on as directors of the family holding company.
Fininvest includes controlling stakes in Mediaset, Italy’s biggest commercial broadcaster; Mondari, the country’s biggest publisher; and other communications and entertainment assets.
“Further to the reading of Silvio Berlusconi’s last will and testament,...
- 7/6/2023
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Reactions are pouring in across Italy and globally to the death on Monday of scandal-tainted media mogul and politician Silvio Berlusconi that marks the end of an Italian era and raises questions about the future of his empire which spans from TV, advertising, and sports to real estate and insurance.
Berlusconi, who was 86, died Monday morning at Milan’s San Raffaele hospital from complications of a lung infection due to chronic leukemia. At his bedside where four of his five children Eleonora, Barbara, Marina and Pier Silvio and his brother Paolo.
As former Italian prime minister Matteo Renzi, a political rival and leader of Italy’s centrist Italia Viva party put it: “Silvio Berlusconi made the history of this country. Many loved him, many hated him: everyone must recognize that his impact on our political life, as well as on its economic, sports and television spheres, was unprecedented. Today Italy mourns together with his family,...
Berlusconi, who was 86, died Monday morning at Milan’s San Raffaele hospital from complications of a lung infection due to chronic leukemia. At his bedside where four of his five children Eleonora, Barbara, Marina and Pier Silvio and his brother Paolo.
As former Italian prime minister Matteo Renzi, a political rival and leader of Italy’s centrist Italia Viva party put it: “Silvio Berlusconi made the history of this country. Many loved him, many hated him: everyone must recognize that his impact on our political life, as well as on its economic, sports and television spheres, was unprecedented. Today Italy mourns together with his family,...
- 6/12/2023
- by Nick Vivarelli
- Variety Film + TV
Italian business magnate and politician had been receiving treatment for chronic myelomonocytic leukaemia,
Former Italian prime minister and media magnate Silvio Berlusconi has died aged 86.
He died at the San Raffaele hospital in Milan, according to Italian media.
Three weeks earlier he had been discharged after six weeks of treatment for a lung infection caused by chronic myelomonocytic leukaemia, a rare form of blood cancer.
Berlusconi began his business career in property development before going on to found Mediaset, Italy’s largest commercial broadcaster. He also owned AC Milan football club between 1986 and 2017.
Berlusconi first came to office in 1994 at...
Former Italian prime minister and media magnate Silvio Berlusconi has died aged 86.
He died at the San Raffaele hospital in Milan, according to Italian media.
Three weeks earlier he had been discharged after six weeks of treatment for a lung infection caused by chronic myelomonocytic leukaemia, a rare form of blood cancer.
Berlusconi began his business career in property development before going on to found Mediaset, Italy’s largest commercial broadcaster. He also owned AC Milan football club between 1986 and 2017.
Berlusconi first came to office in 1994 at...
- 6/12/2023
- by Tim Dams
- ScreenDaily
Florence, Italy – Silvio Berlusconi has tapped daughter Marina Berlusconi as his political heir, according to Italian media reports, raising the possibility that he is preparing for life after a possible ban from politics. The 76-year-old billionaire media kingpin and three-time prime minister was convicted Monday of paying an underage girl for sex and abusing his power to try to get her off on a minor shoplifting charge. The conviction carried a sentence of seven years behind bars and a lifetime ban from politics. Video: Berlusconi's Conviction 'Predicted' in 2006 Film 'The Caiman' (Video) Though Berlusconi’s attorneys
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- 6/27/2013
- by Eric J. Lyman
- The Hollywood Reporter - Movie News
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