German media company Pantaflix has decided to terminate negotiations on the sale of its wholly-owned subsidiary Pantaflix Technologies.
No details were given on the reasons for the decision. As a result, the sale process announced on March 29, 2023 will not be pursued and Pantaflix Technologies will remain part of Pantaflix Group. The company currently assesses how the video streaming technology developed by the subsidiary can be integrated into the group’s AI activities to enable faster content marketing.
The decision to terminate the sale process has resulted in a substantiation of the company’s forecast for the financial year 2023. Pantaflix maintains its revenue forecast of €29.5 million to €33.5 million and changes its forecast for earnings before interest and taxes (EBIT) to € -3.7 million to € -3.0 million (previously: € -3.7 million to € -1.5 million).
