MFE-MediaRreurope, the TV group that is controlled by the Italian Berlusconi family, has launched a takeover bid for the German broadcaster Prosiebensat.1 As part of the ambition set to build a pan-European broadcaster that can compete with American streamings such as Netflix.
MFE, led by Pier Silvio Berlusconi-Die, is the son of the late former Italian prime minister and TV-tycoon Silvio Berlusconi and TV operations in Italy and Spain, has long been a importance of almost 30% built in pros and a prophets.
MFE was formed in 2021 when the Berlusconi media set moved its legal headquarters to the Netherlands, its shareholder structure changed and renamed MediaForureurope.
Prosieben, the second largest TV group in Europe in terms of TV thuispenetration, has free-air and pay TV channels in Germany, Austria and Switzerland.
“It’s time to change gear,” said Pier Silvio Berlusconi in a statement on Wednesday. “We believe that ProSiebensat.1 needs a strong shareholder who can offer expertise and experience in the industry, make an active contribution to the growth set,” he added.
Berlusconi in the explanation further noted that “the goal is to create a cross media, cross-national pan-European group that naturally acts as an alternative to the digital giants and the ambitious goal of being able to compete and grow.”
In the statement, MFE said that it is planning to offer the average price of ProSieben shares in the past three months, which is the minimum price level that is permitted under the German takeover law. The share value of the MFE offer is expected to be around € 5.7 ($ 6) per share at a closing price of € 6.5 ($ 7) on Wednesday after the price of Prosieben Rose after news stated that the takeover bid was available.
MFE said that it already has a binding agreement “with a current shareholder” who is committed to adhering to the offer irrevocable and therefore “will have in any case more than 30% of ProSieben’s share capital at the end of the offer.”
Although MediaSet has long held a controlling Prosieben interest, the top management of the German giant has so far been published against the proposals of Piersilvio Berlusconi for cooperation. Analysts say that although there have been clear advantages for cutting costs for MFE in scrapping the Spanish unit of media set Espana and combining the Italian and Spanish linear TV units of MFE, synergies with Prosieben are more complex.