MediaForEurope (MFE), the Italian media group controlled by the Berlusconi family, has scheduled a board meeting to discuss a potential takeover of Germany’s ProSiebenSat.1. MFE, chaired by Pier Silvio Berlusconi, is already the largest shareholder in the Munich-based broadcaster, owning 29.9% of its capital. Any increase in its stake would necessitate a formal takeover bid.
Tensions reportedly exist between the German and Italian groups. Adding to the complexities, Andreas Wiele has announced his resignation as chair, effective at the general meeting on May 28. ProSiebenSat.1, a major player in the German market, accounting for around 25 to 30 percent of audiences, reported a slight revenue increase to nearly €4 billion last year, although operating profit was slightly lower at €557 million.
Recent developments include ProSiebenSat.1’s sale of its online comparison platform, Verivox, to Moltiply Group for approximately €232 million. The implications of MFE's potential takeover bid are significant, particularly considering the current state of the European media market.