MFE sees over 200 mln euros in benefits from potential ProSieben tie-up, source says
By Elvira Pollina
MILAN, Oct 31 (Reuters) -MFE-MediaForEurope, the TV group controlled by Italy's Berlusconi family, expects any potential tie-up with German rival ProSiebenSat.1 to add more than 200 million euros ($217 million) a year to operating profit, a source with knowledge of the matter said.
MFE MFEB.MI is the single-biggest investor in ProSieben PSMGn.DE with a near 30% stake it started building in 2019 as part of plans to create a pan-European TV platform.
MFE included the 200 million euro estimate in plans discussed late last year and in early 2024 with lenders interested in financing a potential ProSieben bid worth up to 4 billion euros, the source said.
The size of the benefits would need updating if MFE decided to move ahead with an offer, but the figure shows the rationale behind a potential transaction.
MFE and ProSieben declined to comment.
Earlier this year, MFE stopped short of going ahead with a bid and sought to promote a spin-off of ProSieben's online dating and e-commerce assets.
MFE's near 30% holding in ProSieben is just below the threshold that would trigger a mandatory buyout offer under German rules.
Based on MFE's calculations, the full benefits of a potential ProSieben tie-up could be achieved over four years provided that MFE owns 75% of ProSiebenSat, the source told Reuters on condition of anonymity as the information is confidential.
MFE is likely to wait for ProSieben's full-year earnings in March to factor any progress by the German group on the planned disposal of its digital assets and its performance before deciding on its next steps, the source and another person familiar with the situation said.
Under another scenario MFE is evaluating, the Milan-listed group could put forward alternative candidates for ProSieben's supervisory board seats that will be renewed at the German company's annual shareholder meeting next year, including the chairman, the first source said.
This would give MFE more say in ProSieben's decision on whether to renew the contract of CEO Bert Habets, which expires in November 2025, the first person added.
The 200 million euros created by the potential tie-up with the German media group would come from lower costs and higher revenue linked to the introduction of a centralised platform for advertising sales, the source said.
MFE's deal with its Spanish TV business completed last year is estimated to produce benefits of about 55 million euros a year.
($1 = 0.9203 euros)
Reporting by Elvira Pollina in Milan, and Klaus Lauer in Berlin, editing by Valentina Za and Jane Merriman
Berita Terkini
Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.
