Italian media group Mediaset has acquired further 5.5% in the share capital of German media company ProSiebenSat.1, increasing its total shareholding to 15,1%.
According to Mediaset, the move, conducted through Italian subsidiary Mediaset España Comunicación, is part of the group’s strategy to build a pan-European portfolio with access to major markets. In June 2019, Mediaset had announced the creation of Media for Europe (MFE), owning stakes in leading European media groups.
Mediaset firmly believes in the future of the European media industry, according to a statement, adding that the transaction marks another important step in creating an independent European TV, content and digital powerhouse, thereby improving Europe’s competitive position in the global marketplace. “Scale is becoming a crucial strategic factor. Mediaset is convinced that there has to be a pan-European answer to increasing competition and technological challenges ahead.”
“Economies of scale will allow all European broadcasters to compete on an equal footing by leveraging their respective leadership positions in linear and non-linear entertainment, content, tech and data. Going forward, pan-European structures will help create the necessary scale to be more attractive for advertising, invest in cutting edge technology and focus on competitive content production as well as on a broader digital and on-demand offering.”
“ProSiebenSat.1 has significant growth potential and Mediaset is pleased to have the opportunity to further strengthen its position as a major shareholder. Mediaset is convinced that its investment in P7S1 will allow to strengthen its ties with the company even further on its path to unlocking substantial value in the German and European markets,” the statement concludes.
