ProSiebenSat.1 channel sell off will take 6 months
January 24, 2011
ProSiebenSat.1 Media’s plans to sell TV channels outside Germany may take from four to six months to complete, Chief Executive Officer Thomas Ebeling has said.
Efforts to attract interest in the units are proceeding “in line with expectations,” Ebeling said in Munich, adding talks may not culminate in any divestments.
Ebeling said in December the company would begin seeking buyers for some units outside the country. ProSiebenSat.1 is benefiting from stronger advertising spending and a rebounding German economy. Third-quarter profit and sales beat analysts’ estimates, and Ebeling predicted in November the broadcaster will reach the high end of its 2010 profit target.