Italian media company Mediaset has acquired a 9.6% stake in German broadcaster ProSiebenSat.1.
Financial details have not been disclosed. With the move, Mediaset wants to strengthen its relationship with ProSiebenSat.1.
Mediaset Italia, Mediaset España und ProSiebenSat.1 have already been close partners as members of the European Media Alliance (EMA) for five years. The goal of the alliance is to develop scale economies which are crucial for the future of European TV, according to the partners.
“The friendly acquisition of a stake in ProSiebenSat.1 is a long-term choice, aimed at creating value with an increasingly international outlook. It strengthens our existing industrial relationship,” said Pier Silvio Berlusconi, CEO of Mediaset. “And it is with the future precisely in mind, that the Mediaset Group, by becoming a shareholder of ProSiebenSat.1, confirms its esteem for the current management.”
“The rapid process of globalisation that is determining the international scenario is such that European media companies like us need to join forces if we are to continue to compete, or even just resist, in terms of our European cultural identity, eventual attacks by the global giants,” Berlusconi added.
“It is in this spirit of collaboration and shared vision that Mediaset, the leader in Italy and Spain, has decided to invest in ProSiebenSat.1. An investment that, we are sure, will create tangible value for both groups.”
ProSiebenSat.1 CEO Max Conze reacted positively to the new shareholder: “We welcome Mediaset Group’s investment and see it as a vote of confidence in our strategy and team.”
