Saban buys ProSiebenSat 1

Private TV The takeover of Germany's largest TV group ProSiebenSat 1 by the US billionaire Haim Saban is complete: After months of negotiations, Saban signed the purchase agreement on Monday. According to the KirchMedia management, the second part of the contract is to be signed within the next ten days. The contract for the film rights deal is said to be several thousand pages long. The lawyers on both sides did not finish proofreading in time. However, agreement has been reached on the general conditions of the sale. The purchase price is estimated at 500 million euros. Saban will acquire 36% of the shares and, according to Horizont.de, 72% of the voting rights in the TV group via a new subsidiary.