MFE Secures 75% Stake in ProSiebenSat.1, Becomes Europe's Largest Broadcaster
MFE-MediaForEurope, owned by Italy's Berlusconi family, acquired a 75.61% stake in ProSiebenSat.1, positioning itself as Europe's largest free-to-air broadcaster. The acquisition is part of MFE's strategy to establish a European ad-funded TV platform. MFE shares increased following the regulatory filing of the takeover offer.
MFE-MediaForEurope announced on Thursday that it has secured a 75.61% stake in ProSiebenSat.1, concluding a lengthy takeover battle. This acquisition places MFE on the path to becoming Europe's largest free-to-air broadcaster.
Led by the Berlusconi family, MFE aims to create a pan-European ad-funded TV platform to compete with dominant U.S. streaming services. After the regulatory filing regarding its public takeover of the German broadcaster, MFE's shares rose by 4.1%.
This move allows MFE, under German stock market regulations, to engage in a profit and loss transfer agreement with ProSieben. With this acquisition and the consolidation of ProSieben's holdings, MFE is set to become Europe's leading free-to-air broadcaster, according to Enders Analysis.
(With inputs from agencies.)
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