The first potential buyers are reportedly circling the production business of German media company ProSiebenSat.1.
French media companies Vivendi and Banijay may show interest in the US content operations, reports Reuters with reference to sources familiar with the matter, adding that other potential strategic investors were less keen, and there was also limited interest from private equity.
Morgan Stanley is managing the sale, according to the report. Binding bids are due by the end of October 2019 with ProSiebenSat.1 aiming for a sale by the end of the year.
ProSiebenSat.1 wants to keep its German production operations as well as digital outlet Studio71, the sources said. The company confirmed in early September that the sale process has been initiated.
