Sanoma/de Mol buy Pro7 assets
April 20, 2011
By Chris Forrester
German commercial broadcaster ProSieben/Sat1 has sold its Dutch and Belgian stations to a consortium led by Finnish media group Sanoma along with Endemol founder John de Mol. The consortium has paid €1.23bn ($1.76bn) for SBS6, Net5 and Veronica.
Munich-based Pro7/Sat1 acquired the stations in 2007 when it bought SBS Broadcasting.
The sale completes the asset disposal, says Pro7/Sat1, which means its Nordic assets will not now be sold.
Sanoma publishes Finland’s top daily Helsingin Sanomat and around 300 magazine titles in 13 European countries as well as owning a cinema chain.”We believe that by combining our media assets in a new way in the future, we will create a true next generation media offering,” said Sanoma CEO Harri-Pekka Kaukonen in a statement.