Haim Saban enters into new negotiations with Spinger
As reported by the Frankfurter Allgemeine Sonntagszeitung, Haim Saban, the majority owner of the Pro Sieben Sat.1 broadcasting group, will begin renegotiations on Monday with Springer CEO Mathias Döpfner.
As the Frankfurter Allgemeine
Sonntagszeitung reported, Haim Saban, principal owner of the
broadcasting group Pro Sieben Sat.1, on Monday with Springer CEO Mathias
Döpfner to start new negotiations. A new round of negotiations was
necessary because the German Federal Cartel Office (Bundeskartellamt) had authorized Springer to enter the
television business is only permitted on the condition that Pro Sieben
is first sold and then Sat.1 is taken over. The proposal
Springer's decision to close the chain of channels for only a legal second
to take over the entire business so as not to have to roll it out again, had
the Cartel Office rejected.
As reported by the Süddeutsche Zeitung, a large number of
interested parties have been found for ProSieben, including the French
television group TF1 and the pay-TV broadcaster Premiere. However, whether Saban
is prepared to carve out ProSieben or turn its group into a
It is not known whether the company will be sold as a whole at a later date.
If no agreement
between Saban and Springer come about, the
Springer Group emerged from the power struggle without financial damage.
Döpfner had minimized the antitrust risk through a contractual clause with Saban
and negotiated a right of withdrawal, according to the Frankfurt
Allgemeine Sonntagszeitung. Only if the business takes longer,
Springer must pay interest on the purchase price not yet paid in
of 50 million euros per month.
Sonntagszeitung reported, Haim Saban, principal owner of the
broadcasting group Pro Sieben Sat.1, on Monday with Springer CEO Mathias
Döpfner to start new negotiations. A new round of negotiations was
necessary because the German Federal Cartel Office (Bundeskartellamt) had authorized Springer to enter the
television business is only permitted on the condition that Pro Sieben
is first sold and then Sat.1 is taken over. The proposal
Springer's decision to close the chain of channels for only a legal second
to take over the entire business so as not to have to roll it out again, had
the Cartel Office rejected.
As reported by the Süddeutsche Zeitung, a large number of
interested parties have been found for ProSieben, including the French
television group TF1 and the pay-TV broadcaster Premiere. However, whether Saban
is prepared to carve out ProSieben or turn its group into a
It is not known whether the company will be sold as a whole at a later date.
If no agreement
between Saban and Springer come about, the
Springer Group emerged from the power struggle without financial damage.
Döpfner had minimized the antitrust risk through a contractual clause with Saban
and negotiated a right of withdrawal, according to the Frankfurt
Allgemeine Sonntagszeitung. Only if the business takes longer,
Springer must pay interest on the purchase price not yet paid in
of 50 million euros per month.
