Berlusconi’s MFE-MediaForEurope is ruling out a takeover bid as well as a full merger with ProSiebenSat.1 at present, but is confident that closer cooperation is possible.
“As of now, honestly, we cannot talk of a merger, and would be absurd talking about a takeover bid,” MFE CEO Pier Silvio Berlusconi said at a press briefing at the company’s Italian headquarters near Milan, according to a report by Reuters.
Berlusconi added that he was “confident the two companies can join forces to develop some joint projects,” citing the development of a digital TV advertising platform capable of competing with online giants such as Google.
MFE built up a stake of up to 29.9% in the German media company over the past months. In December 2022, MFE filed a notification at the Austrian competition authority for the “acquisition of de facto sole control over ProSiebenSat.1 Media SE, Unterföhring, Germany.”
Earlier this week, MFE announced that it is to absorb Spanish subsidiary Mediaset España into the company as part of an ongoing plan to create a truly pan-European broadcast group competing head-on with US streaming players.