Pro Sieben Sat.1 divests subsidiaries in the Netherlands and Belgium
The media group Pro Sieben Sat.1 is selling its subsidiaries in the Netherlands and Belgium for 1.23 billion euros. The TV business in the Netherlands and the high-circulation TV magazine Veronica were sold to a consortium consisting of the Finnish media group Sanoma and Talpa Holding.
The deal still has to be approved by the antitrust authorities, the company announced on Wednesday night. The Belgian TV activities were acquired by a consortium consisting of Sanoma, Corelio and Waterman & Waterman. The television group has been planning the sale of its foreign subsidiaries for some time. Pro Sieben Sat.1 intends to use the proceeds to pay off its mountain of debt. (SDA)
