German media company ProSiebenSat.1 will not be split up. The proposal by its largest investor MFE-MediaForEurope did not get the required majority at today’s AGM in Munich.
According to MFE’s proposal, ProSiebenSat.1 should have examined and prepared the separation of the commerce & ventures and dating & video segments. With their rejection, the shareholders followed the recommendation of the Executive Board and Supervisory Board.
In his speech at the AGM, ProSiebenSat.1 CEO Bert Habets promoted the company’s course of action taken in the past year: “We are pursuing a clear strategy. We are focussing on our entertainment expertise. We are putting Joyn at the centre. We are leveraging the potential of partnerships. And we are developing new forms of monetisation. We are therefore on the right path to becoming the number 1 entertainment player in the German-speaking region.”
In addition, elections for the ProSiebenSat.1 Supervisory Board were held at the AGM. Klára Brachtlová had already been appointed to the Supervisory Board by court last year as a representative of second-largest shareholder PPF and has now been confirmed in office. Christoph Mainusch, who was proposed by PPF, as well as Leopoldo Attolico and Simone Scettri, who both had been proposed by MFE, were elected to the Supervisory Board. Professor Dr Rolf Nonnenmacher and Marjorie Kaplan will no longer be members of the new Supervisory Board.
