Advanced Television

Pro7 not keen on MFE merger

May 4, 2022

By Chris Forrester

The CEO of Germany’s commercial broadcasting network ProSiebenSat.1, Rainer Beaujean, has said while that he is open to formal takeover offers, he would not believe in either a German merger with RTL nor a cross-border deal with MFE (MediaForEurope).

While the former deal seems impossible to him due to the regulatory environment, he told the FT in an interview, he sees the latter as commercially unsound, according to a report from investment bank Exane/BNPP.

The ProSieben CEO when asked about the group’s independence in 5 year’ time suggested that he believes in it as: “Yes. There is no one with the opportunity and [capability] to take us,”.

He also underlined that he want to keep on growing the broadcasting group:

“ProSieben spans an array of media assets, including more than a dozen free-to-air channels, streaming platforms such as Joyn, production studios, dating sites and a stable of offbeat business bets, including investments through advertising-for-equity deals,” Beaujean argued.

Beaujean reiterated the plans to float the dating division ParshipMeet, which is part-owned by US private equity group General Atlantic, but the date has been postponed because of market uncertainty.

The bank says: “Whilst we see minimal synergy opportunity for a cross-border TV deal, we do believe there is opportunity for national TV mergers. We also believe regulators need to relax the rules if they want national advertising houses such as RTL or ProSieben to survive against the big American media houses with deeper pockets and bigger content libraries.”

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