Mediaset merges Italian and Spanish operations

  •   
  •   
  •   

The boards of directors of Italy’s Mediaset and Mediaset España have agreed to merge the two companies into a new holding company called MediaForEurope (MFE).

The new pan-European parent company will be legally based in the Netherlands and listed both on the Italian and Spanish stock exchanges.

The operational activities of both companies will remain in Italy and Spain, and the same will apply to the tax bases, production and jobs. MFE will control 100 per cent of Mediaset SpA and 100 per cent of Mediaset España as well as the recently acquired 9.6 per cent stake in ProSiebenSat1.

The transaction will create a pan-European media and entertainment group, with a combined audience of 107 million viewers to better compete with global players and potential to expand further in Europe.

An extraordinary general meeting of shareholders of Mediaset and Mediaset España will be held on 4 September to approve the merger, which should become effective during Q4 2019.

Once fully set-up, MFE will effect a share buy back for €280 million and will distribute a dividend of €100 million to shareholders by the end of 2019.

The new operational model should generate €107 million per year in synergies and savings by 2023.


  •   
  •   
  •   

You must be logged in to post a comment Login