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SBS fails to attract high bidders

Scandinavian broadcaster SBS, which is being sold off by owners ProSieben/Sat.1, is not likely to achieve its €1.4 billion price target. Offers are more likely to be in the €1.2-€1.3 billion range, according to reports.

The bidders are said to be worried about broadcasting’s prospects in the Eurozone, and in particular whether SBS can maintain current carriage fees from cable and satellite operators.

The FT reports that Discovery Communications and Providence Equity Partners are still in the bidding line up.

For the quarter-year’s trading to September 31st Pro7/Sat.1’s so-called international trading, which is mostly made up of SBS’s numbers, came in with revenues of €134.4 million.

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