German media company ProSiebenSat.1 is reportedly planning a significant round of job cuts.
Around 500 positions are expected to be axed, reports German business magazine Manager Magazin, adding that ProSiebenSat.1 CEO Bert Habets will probably announce the cost-cutting measures during the company’s financial results press conference on 6 March 2025.
The job reductions will primarily affect the television and streaming divisions, which currently employ around 4,000 people, according to the report. Additionally, the company plans to cut operational expenses in other areas.
ProSiebenSat.1 declined to comment on the reported layoffs and pointed to the broader transformation currently affecting the media industry.
The job cuts come at a time when ProSiebenSat.1 is facing increasing pressure from its major shareholders: Italy’s MFE-MediaForEurope and Czech investment group PPF. The power struggle between these key investors was cited as a reason for the recent resignation announcement of ProSiebenSat.1’s Chairman of the Supervisory Board, Dr Andreas Wiele. Wiele will step down at the company’s Annual General Meeting on 28 May.
MFE, which is controlled by the Berlusconi family, currently holds a 29.99% stake in ProSiebenSat.1, just below the threshold that would trigger a mandatory takeover offer for the remaining shares. The Italian media company has recently secured €3.4 billion in loans to finance its international expansion plans. MFE has long envisioned the creation of a pan-European media conglomerate capable of competing with streaming giants such as Netflix.
Both MFE and PPF, which holds a nearly 13% stake, have been urging ProSiebenSat.1 to divest non-core assets and focus on its core television and entertainment business. The investors have specifically pushed for a quick sale of digital platforms such as price comparison website Verivox and online cosmetics retailer Flaconi.
Industry analysts speculate that MFE may launch a long-anticipated takeover bid for ProSiebenSat.1 after Germany’s next federal election and the release of the company’s annual financial results. The ongoing shareholder tensions and restructuring efforts signal a turbulent period ahead for the German media group.
