ProSiebenSat.1: Bids are on the table
The deadline for submitting bids for Germany's largest TV group to a London investment house was Tuesday afternoon. The investors led by US billionaire Haim Saban want to sell a majority stake in ProSiebenSat.1. Dogan Media's bid could also bring Axel Springer back into the picture.
The deadline for submitting bids for Germany's largest TV group to a London investment house was Tuesday afternoon. The investors led by US billionaire Haim Saban want to sell a majority stake in ProSiebenSat.1. A purchase price of around EUR 3 billion is being discussed, but no further details are known. The Turkish media group Dogan and consortia consisting of the financial investors Permira and KKR, as well as Apax and Goldman Sachs, have appeared as bidders. Dogan and Permira/KKR are said to have submitted a definite bid.
The interest of the Turkish media company, which publishes the daily newspaper Hürryjet among others, was received with particular interest. This is because the Axel Springer Group holds a 25 percent stake in Dogan TV. Springer had tried in vain to take over ProSiebenSat.1 at the beginning of the year and failed due to resistance from the Cartel Office. A few days ago, Dogan also announced its intention to take a German partner on board in the event of a successful bid and to sell it up to 25 percent of the shares.
According to reports, the owners want to decide before Christmas and possibly even at the end of this week or the beginning of next week who will be awarded the contract for the company with the channels ProSieben, Sat.1, Kabel eins and N24.
The interest of the Turkish media company, which publishes the daily newspaper Hürryjet among others, was received with particular interest. This is because the Axel Springer Group holds a 25 percent stake in Dogan TV. Springer had tried in vain to take over ProSiebenSat.1 at the beginning of the year and failed due to resistance from the Cartel Office. A few days ago, Dogan also announced its intention to take a German partner on board in the event of a successful bid and to sell it up to 25 percent of the shares.
According to reports, the owners want to decide before Christmas and possibly even at the end of this week or the beginning of next week who will be awarded the contract for the company with the channels ProSieben, Sat.1, Kabel eins and N24.
