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
German broadcaster ProSiebensat.1 has rejected a proposal by top Italian commercial broadcaster Mediaset — which has been rebranded as MediaForEurope (Mfe) — to split up the company in what amounts to a substantial setback to Mfe’s ambitions to build a pan-European broadcaster.
Mfe, which is headed by Pier Silvio Berlusconi — who is the son of the late former Italian Prime Minister and TV tycoon Silvio Berlusconi — owns a a nearly 30% stake in ProSieben, which makes them the company’s top investor but does not give them control. He is pushing to spin off ProSieben’s e-commerce and dating assets from the company’s core TV operations so that Mfe can mount a potential ProSiebensat.1 buyout and become a full-fledged pan-European media group.
Pier Silvio Berlusconi, in an interview with Italian daily Corriere della Sera last week, made it clear that Mfe’s buyout offer for ProSieben could only be possible once...
Mfe, which is headed by Pier Silvio Berlusconi — who is the son of the late former Italian Prime Minister and TV tycoon Silvio Berlusconi — owns a a nearly 30% stake in ProSieben, which makes them the company’s top investor but does not give them control. He is pushing to spin off ProSieben’s e-commerce and dating assets from the company’s core TV operations so that Mfe can mount a potential ProSiebensat.1 buyout and become a full-fledged pan-European media group.
Pier Silvio Berlusconi, in an interview with Italian daily Corriere della Sera last week, made it clear that Mfe’s buyout offer for ProSieben could only be possible once...
- 3/27/2024
- by Nick Vivarelli
- Variety Film + TV
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
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
Those who were hoping for “Succession”-style infighting following Silvio Berlusconi’s death may be disappointed.
The will of Italy’s media-mogul and former prime minister – who died on June 12 at age 86 – was partly made public on Thursday. What emerged is that his eldest children, Marina and Pier Silvio, will together continue to control his business empire estimated to be worth around $6.8 billion, according to Forbes.
But, according to a statement issued by his five chilren, “No shareholder will exercise overall individual indirect control of Fininvest SpA previously exercised by their father.” Fininvest is the Berlusconi family holding company.
Marina and Pier Silvio Berlusconi — who both already held chief executive roles respectively in Fininvest and in Berlusconi’s Mfe-MediaForEurope, aka Mediaset TV business – will now hold equal stakes jointly amounting to a roughly 53% majority stake in the Fininvest family holding. Fininvest also owns publisher Mondadori; vast luxury real estate properties in Milan,...
The will of Italy’s media-mogul and former prime minister – who died on June 12 at age 86 – was partly made public on Thursday. What emerged is that his eldest children, Marina and Pier Silvio, will together continue to control his business empire estimated to be worth around $6.8 billion, according to Forbes.
But, according to a statement issued by his five chilren, “No shareholder will exercise overall individual indirect control of Fininvest SpA previously exercised by their father.” Fininvest is the Berlusconi family holding company.
Marina and Pier Silvio Berlusconi — who both already held chief executive roles respectively in Fininvest and in Berlusconi’s Mfe-MediaForEurope, aka Mediaset TV business – will now hold equal stakes jointly amounting to a roughly 53% majority stake in the Fininvest family holding. Fininvest also owns publisher Mondadori; vast luxury real estate properties in Milan,...
- 7/6/2023
- by Nick Vivarelli
- Variety Film + TV
Silvio Berlusconi has left the keys to his business kingdom to his eldest two children, Marina and Pier Silvio, his will has revealed.
The children are both key executives in the Berlusconi media empire, with Maria Berlusconi the Chairman of family investment vehicle Fininvest and Pier Silvio Berlusconi the CEO of MediaForEurope (Mfe), the European broadcasting business that his father founded decades ago.
Together, they will control about 53% of the Fininvest family business. Each will take an equal stake.
Controversial four-time former Italian Prime Minister Silvio Berlusconi passed away on June 12 in Milan, having been in bad health for some time. Following his passing, focus turned to his state funeral and who would take over his sprawling business empire. It is estimated Berlusconi’s assets are worth nearly $7B.
His will was made public today, revealing the business succession plan. According to its terms, Marina and Pier Silvio take about 60% of the assets,...
The children are both key executives in the Berlusconi media empire, with Maria Berlusconi the Chairman of family investment vehicle Fininvest and Pier Silvio Berlusconi the CEO of MediaForEurope (Mfe), the European broadcasting business that his father founded decades ago.
Together, they will control about 53% of the Fininvest family business. Each will take an equal stake.
Controversial four-time former Italian Prime Minister Silvio Berlusconi passed away on June 12 in Milan, having been in bad health for some time. Following his passing, focus turned to his state funeral and who would take over his sprawling business empire. It is estimated Berlusconi’s assets are worth nearly $7B.
His will was made public today, revealing the business succession plan. According to its terms, Marina and Pier Silvio take about 60% of the assets,...
- 7/6/2023
- by Jesse Whittock
- Deadline Film + TV
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
Silvio Berlusconi, the former Italian Prime Minister and media mogul, has died at 86, according to Italian media reports. Local press said Berlusconi died at the San Raffaele hospital in Milan. He had been in poor health and, in April, was treated for a lung infection linked to a previously undisclosed case of chronic leukemia.
Related: Hollywood & Media Deaths In 2023: Photo Gallery & Obituaries
Berlusconi was a highly controversial former Italian Prime Minister and media mogul who was a giant of Italian politics and the longest-serving in the post since World War II.
He served as Prime Minister of Italy in four governments from 1994 to 2011 and had recently been returned to the Senate of the Republic in the Giorgia Meloni government, leading the centre-right Forza Italia Party. Given his domineering political position, his death could lead to a destabilization of Italian politics in the coming months.
Along with A.C. Milan football club,...
Related: Hollywood & Media Deaths In 2023: Photo Gallery & Obituaries
Berlusconi was a highly controversial former Italian Prime Minister and media mogul who was a giant of Italian politics and the longest-serving in the post since World War II.
He served as Prime Minister of Italy in four governments from 1994 to 2011 and had recently been returned to the Senate of the Republic in the Giorgia Meloni government, leading the centre-right Forza Italia Party. Given his domineering political position, his death could lead to a destabilization of Italian politics in the coming months.
Along with A.C. Milan football club,...
- 6/12/2023
- by Max Goldbart
- Deadline Film + TV
Mediaset CEO Pier Silvio Berlusconi has given his verdict on an upcoming video appearance by Ukrainian President Volodymyr Zelensky at Italy’s iconic Sanremo song festival, adding fuel to an ongoing political debate around the operation.
Speaking at a press conference for Mediaset results on Thursday, Berlusconi said he did not feel the festival, celebrating Italian song, was the right place for such an address.
The TV exec and entrepreneur is the son of Italian media tycoon and politician Silvio Berlusconi, who has described himself as one of Russian President Vladimir Putin’s closest friends.
Zelensky has made video addresses at a raft of cultural and entertainment events since the beginning of the Russian invasion of Ukraine on February 24, 2022, including the Cannes and Venice films festivals, the Golden Globes and U.K.’s Glastonbury music festival.
Plans to carry out a similar operation on the final night of Sanremo on...
Speaking at a press conference for Mediaset results on Thursday, Berlusconi said he did not feel the festival, celebrating Italian song, was the right place for such an address.
The TV exec and entrepreneur is the son of Italian media tycoon and politician Silvio Berlusconi, who has described himself as one of Russian President Vladimir Putin’s closest friends.
Zelensky has made video addresses at a raft of cultural and entertainment events since the beginning of the Russian invasion of Ukraine on February 24, 2022, including the Cannes and Venice films festivals, the Golden Globes and U.K.’s Glastonbury music festival.
Plans to carry out a similar operation on the final night of Sanremo on...
- 2/2/2023
- by Melanie Goodfellow
- Deadline Film + TV
Top Italian commercial broadcaster Mediaset, which is being rebranded as MediaForEurope (Mfe), is merging its Spanish subsidiary Mediaset Espana into Mfe in a move long touted as the first step in its stated plan to gain scale in Europe.
The merger, which follows Mfe’s bid last March to gain full control of Mediaset Espana, was approved by the two companies’ boards of directors, the broadcaster said in a statement late Monday. However, the deal still needs to pass a final hurdle.
The Mediaset Espana merger by absorption with Mfe — which is mostly made up by Mediaset’s Italian unit — still needs to be approved by votes that will be held at their respective shareholders’ meetings in March. The merger is expected to become effective in the second quarter of the year.
Mfe was formed in 2021 when Mediaset moved its legal headquarters to the Netherlands, changed its shareholding structure, and rebranded as MediaForEurope.
The merger, which follows Mfe’s bid last March to gain full control of Mediaset Espana, was approved by the two companies’ boards of directors, the broadcaster said in a statement late Monday. However, the deal still needs to pass a final hurdle.
The Mediaset Espana merger by absorption with Mfe — which is mostly made up by Mediaset’s Italian unit — still needs to be approved by votes that will be held at their respective shareholders’ meetings in March. The merger is expected to become effective in the second quarter of the year.
Mfe was formed in 2021 when Mediaset moved its legal headquarters to the Netherlands, changed its shareholding structure, and rebranded as MediaForEurope.
- 1/31/2023
- by Nick Vivarelli
- Variety Film + TV
Top Italian private broadcaster Mediaset, which is being rebranded as MediaForEurope (Mfe), has completed the takeover bid of its Spanish TV subsidiary Mediaset Espana in what is being touted as the first step “towards the creation of a pan-European group,” the company has announced.
After launching a cash-and-shares takeover bid for the 44 stake of its Spanish unit that it did not own, the broadcaster controlled by former Italian prime minister Silvio Berlusconi’s family now holds a roughly 83 stake in Mediaset Espana, which is Spain’s leading private free-tv player. Mediaset did not disclose the total cost of the takeover which has been valued at roughly €780 million (791 million).
The stated plan now is to look into a merger of Mediaset’s Spanish unit with its Milan-based Italian core company. More importantly, moves are said to be underway for the Spanish operation to spearhead the Mfe consolidation effort into other European countries.
After launching a cash-and-shares takeover bid for the 44 stake of its Spanish unit that it did not own, the broadcaster controlled by former Italian prime minister Silvio Berlusconi’s family now holds a roughly 83 stake in Mediaset Espana, which is Spain’s leading private free-tv player. Mediaset did not disclose the total cost of the takeover which has been valued at roughly €780 million (791 million).
The stated plan now is to look into a merger of Mediaset’s Spanish unit with its Milan-based Italian core company. More importantly, moves are said to be underway for the Spanish operation to spearhead the Mfe consolidation effort into other European countries.
- 7/8/2022
- by Nick Vivarelli
- Variety Film + TV
Top Italian commercial broadcaster Mediaset, which is being rebranded as MediaForEurope (Mfe), is launching a bid to gain full ownership of its Spanish unit Mediaset Espana in move touted as a first step in its stated plan to gain scale in Europe.
The company, which is controlled by the family of former Italian Prime Minister Silvio Berlusconi, after a board meeting late on Tuesday revealed that it has given the go-ahead for a public offer in cash and shares to buy the 44.31% stake it does not already own in Mediaset Espana, which is Spain’s leading private free-tv player.
Mfe is valuing the Mediaset Espana stake at roughly €780 million euros ($854.6 million).
“The offer represents an important step forward in the creation of a pan-European media and entertainment group,” Mfe said in a statement.
The expected move comes after Milan-based Mediaset last year moved its legal headquarters to the Netherlands, changed...
The company, which is controlled by the family of former Italian Prime Minister Silvio Berlusconi, after a board meeting late on Tuesday revealed that it has given the go-ahead for a public offer in cash and shares to buy the 44.31% stake it does not already own in Mediaset Espana, which is Spain’s leading private free-tv player.
Mfe is valuing the Mediaset Espana stake at roughly €780 million euros ($854.6 million).
“The offer represents an important step forward in the creation of a pan-European media and entertainment group,” Mfe said in a statement.
The expected move comes after Milan-based Mediaset last year moved its legal headquarters to the Netherlands, changed...
- 3/16/2022
- by Nick Vivarelli
- Variety Film + TV
Italian commercial broadcaster Mediaset announced on Monday that it will be holding a board meeting to decide whether to raise its stake in Mediaset Espana, following press reports that the company intends to gain full control of its Spanish TV unit.
In a statement issued by its MediaForEurope subsidiary, Mediaset, which is controlled by the family of former Italian Prime Minister Silvio Berlusconi, said it will hold a board meeting on Monday or Tuesday “with a view to adopting eventual resolutions on the case.”
“A study is being made of the strategy regarding the stake held in Mediaset Espana,” the statement said.
Mediaset, which currently owns a more than 50% stake in Mediaset Espana, is believed to be mulling the launch of a takeover bid of the remaining more than 40% stake it does not own in the company, which has a market value of €1.6 billion ($1.8 billion) according to Bloomberg.
Shares in Mediaset Espana,...
In a statement issued by its MediaForEurope subsidiary, Mediaset, which is controlled by the family of former Italian Prime Minister Silvio Berlusconi, said it will hold a board meeting on Monday or Tuesday “with a view to adopting eventual resolutions on the case.”
“A study is being made of the strategy regarding the stake held in Mediaset Espana,” the statement said.
Mediaset, which currently owns a more than 50% stake in Mediaset Espana, is believed to be mulling the launch of a takeover bid of the remaining more than 40% stake it does not own in the company, which has a market value of €1.6 billion ($1.8 billion) according to Bloomberg.
Shares in Mediaset Espana,...
- 3/14/2022
- by Nick Vivarelli
- Variety Film + TV
Top Italian private broadcaster Mediaset has quietly raised its stake in German broadcasting giant ProSiebenSat.1, in which the Berlusconi-owned company now holds an overall 24% share, just below the 25% threshold beyond which it would need authorization from German regulators to exceed.
Mediaset’s Mediaset Espana subsidiary on Thursday evening said it had acquired a 3.43% share in ProSieben for which it paid €104 million euros ($126 million), raising its own ProSieben stake to more than 13%, while its Milan-based Mediaset holding company holds 11% in the German group.
ProSieben, which is Europe’s second-largest TV group in terms of TV home penetration, operates free-to-air and pay-tv channels in Germany, Austria and Switzerland, and controls production group Red Arrow Studios.
On Friday, it announced revenues of €4.04 billion ($4.91 billion) and adjusted earnings of €700 million ($850.9 million) for the full year, according to preliminary figures.
The company has been recalibrating its strategy and focusing on its core TV business, reportedly...
Mediaset’s Mediaset Espana subsidiary on Thursday evening said it had acquired a 3.43% share in ProSieben for which it paid €104 million euros ($126 million), raising its own ProSieben stake to more than 13%, while its Milan-based Mediaset holding company holds 11% in the German group.
ProSieben, which is Europe’s second-largest TV group in terms of TV home penetration, operates free-to-air and pay-tv channels in Germany, Austria and Switzerland, and controls production group Red Arrow Studios.
On Friday, it announced revenues of €4.04 billion ($4.91 billion) and adjusted earnings of €700 million ($850.9 million) for the full year, according to preliminary figures.
The company has been recalibrating its strategy and focusing on its core TV business, reportedly...
- 1/22/2021
- by Nick Vivarelli
- Variety Film + TV
Netflix and Mediaset announced their new partnership Tuesday in Rome. Netflix CEO Reed Hastings and Mediaset CEO Pier Silvio Berlusconi spoke to press, providing details of the new agreement, as well as the first five titles of the seven-picture deal.
As previously announced, the global streamer and Italian television group will co-finance the slate. The new films will highlight both up-and-coming directors as well as established film voices. All films will be shot by local production companies in the Italian language.
The first five films will have their world premiere on Netflix in 2020, and subsequently be aired on Mediaset linear ...
As previously announced, the global streamer and Italian television group will co-finance the slate. The new films will highlight both up-and-coming directors as well as established film voices. All films will be shot by local production companies in the Italian language.
The first five films will have their world premiere on Netflix in 2020, and subsequently be aired on Mediaset linear ...
- 10/8/2019
- The Hollywood Reporter - Film + TV
Netflix and Mediaset announced their new partnership Tuesday in Rome. Netflix CEO Reed Hastings and Mediaset CEO Pier Silvio Berlusconi spoke to press, providing details of the new agreement, as well as the first five titles of the seven-picture deal.
As previously announced, the global streamer and Italian television group will co-finance the slate. The new films will highlight both up-and-coming directors as well as established film voices. All films will be shot by local production companies in the Italian language.
The first five films will have their world premiere on Netflix in 2020, and subsequently be aired on Mediaset linear ...
As previously announced, the global streamer and Italian television group will co-finance the slate. The new films will highlight both up-and-coming directors as well as established film voices. All films will be shot by local production companies in the Italian language.
The first five films will have their world premiere on Netflix in 2020, and subsequently be aired on Mediaset linear ...
- 10/8/2019
- The Hollywood Reporter - Movie News
Pier Silvio Berlusconi's media empire, Mediaset, has struck a multiyear deal to co-finance seven feature films for Netflix, with the streamer expected to contribute the majority of funding.
Mediaset CEO Berlusconi and Netflix CEO Reed Hastings are expected to announce details of the pact next week in Rome. The news was first reported by Bloomberg.
Netflix has struggled in Italy since its entry into the country in 2015. The country lacks infrastructure in many key areas for high bandwidth streaming. Local theater chains have very publicly protested celebrating Netflix films at Venice and other top festivals. And just today, Italian ...
Mediaset CEO Berlusconi and Netflix CEO Reed Hastings are expected to announce details of the pact next week in Rome. The news was first reported by Bloomberg.
Netflix has struggled in Italy since its entry into the country in 2015. The country lacks infrastructure in many key areas for high bandwidth streaming. Local theater chains have very publicly protested celebrating Netflix films at Venice and other top festivals. And just today, Italian ...
- 10/3/2019
- The Hollywood Reporter - Film + TV
Pier Silvio Berlusconi's media empire, Mediaset, has struck a multiyear deal to co-finance seven feature films for Netflix, with the streamer expected to contribute the majority of funding.
Mediaset CEO Berlusconi and Netflix CEO Reed Hastings are expected to announce details of the pact next week in Rome. The news was first reported by Bloomberg.
Netflix has struggled in Italy since its entry into the country in 2015. The country lacks infrastructure in many key areas for high bandwidth streaming. Local theater chains have very publicly protested celebrating Netflix films at Venice and other top festivals. And just today, Italian ...
Mediaset CEO Berlusconi and Netflix CEO Reed Hastings are expected to announce details of the pact next week in Rome. The news was first reported by Bloomberg.
Netflix has struggled in Italy since its entry into the country in 2015. The country lacks infrastructure in many key areas for high bandwidth streaming. Local theater chains have very publicly protested celebrating Netflix films at Venice and other top festivals. And just today, Italian ...
- 10/3/2019
- The Hollywood Reporter - Movie News
In a move to expand its pan-European reach, Italy’s Mediaset has acquired a 9.6% stake in Germany’s ProSiebenSat.1 Media, which is Europe’s second-largest TV group in terms of TV home penetration.
Mediaset is Italy’s top commercial free-to-air broadcaster. Its purchase of a stake in ProSiebenSat.1, for a reported $368 million, comes amid a wave of consolidation in Europe’s television market as traditional networks struggle with declining advertising as younger viewers gravitate towards Netflix and other streamers.
Mediaset is run by chief executive Pier Silvio Berlusconi, son of former Italian Prime Minister Silvio Berlusconi, the broadcaster’s founder. The company previously failed to create a pan-European giant by joining forces with France’s Vivendi in an alliance that went sour, which prompted an unsuccessful hostile takeover attempt by Vivendi. Mediaset operates in Italy and in Spain via Mediaset Espana, and is the private free-tv market leader in both countries.
Mediaset is Italy’s top commercial free-to-air broadcaster. Its purchase of a stake in ProSiebenSat.1, for a reported $368 million, comes amid a wave of consolidation in Europe’s television market as traditional networks struggle with declining advertising as younger viewers gravitate towards Netflix and other streamers.
Mediaset is run by chief executive Pier Silvio Berlusconi, son of former Italian Prime Minister Silvio Berlusconi, the broadcaster’s founder. The company previously failed to create a pan-European giant by joining forces with France’s Vivendi in an alliance that went sour, which prompted an unsuccessful hostile takeover attempt by Vivendi. Mediaset operates in Italy and in Spain via Mediaset Espana, and is the private free-tv market leader in both countries.
- 5/29/2019
- by Nick Vivarelli
- Variety Film + TV
Italian broadcaster Mediaset has acquired a stake in German broadcaster ProSiebenSat.1.
The Italian company, which is owned by ex-Prime Minister Silvio Berlusconi’s Fininvest, has bought a 9.6% stake in the business. It has paid $380M for the stake.
“The friendly acquisition of a stake in ProSiebenSat.1 is a long-term choice, aimed at creating value with an increasingly international outlook,” said Mediaset CEO Pier Silvio Berlusconi.
The move comes as European broadcasters are pulling together to fend off the growth of international Svod services such as Netflix and Amazon. Berlusconi added, “If we are to continue to compete, or even just resist, in terms of our European cultural identity, eventual attacks by the global giants.”
In addition to commercial linear networks, ProSiebenSat.1 also owns Red Arrow Studios, which operates production companies including The Circus and The Weekly producer Left/Right and Say Yes To The Dress producer Half Yard Productions.
The Italian company, which is owned by ex-Prime Minister Silvio Berlusconi’s Fininvest, has bought a 9.6% stake in the business. It has paid $380M for the stake.
“The friendly acquisition of a stake in ProSiebenSat.1 is a long-term choice, aimed at creating value with an increasingly international outlook,” said Mediaset CEO Pier Silvio Berlusconi.
The move comes as European broadcasters are pulling together to fend off the growth of international Svod services such as Netflix and Amazon. Berlusconi added, “If we are to continue to compete, or even just resist, in terms of our European cultural identity, eventual attacks by the global giants.”
In addition to commercial linear networks, ProSiebenSat.1 also owns Red Arrow Studios, which operates production companies including The Circus and The Weekly producer Left/Right and Say Yes To The Dress producer Half Yard Productions.
- 5/29/2019
- by Peter White
- Deadline Film + TV
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.