Modern Times Group is talking with ProSiebenSat.1, about the sale of its European TV and radio group SBS. Valuations on the group go between €1 billion and €1.5 billion. Swedish Modern Times Group is looking specifically at SBS’s Scandinavian business. Holland’s The Telegraaf Media Group, is understood to be interested in the local TV operations owned by SBS Netherlands, according to the FT.
ProSieben is now looking to sell some or all of its SBS operations in Belgium, Holland and Scandinavia. The group has held discussions with more than 10 trade and private equity players. The proceeds of any asset sales will go towards paying down some of the German broadcaster’s €3.3 billion debt. ProSieben is owned by private equity groups Kohlberg Kravis Roberts and Permira who combined it with their SBS businesses.