MFE-MediaForEurope (MFE), the TV group controlled by Italy’s Berlusconi family, has launched a takeover bid for German broadcaster ProSiebenSat.1.
MFE, which operates TV channels in Italy and Spain, has built a near 30% stake in ProSieben as part of a strategy to create a pan-European advertising-funded broadcaster that can compete with US streaming giants and digital players.
MFE is headed by Pier Silvio Berlusconi, the son of the late former Italian Prime Minister and TV tycoon Silvio Berlusconi.
MFE was formed in 2021 when Berlusconi’s Mediaset moved its legal headquarters to the Netherlands, changed its shareholding structure, and rebranded as MediaForEurope.
ProSiebenSat.1 operates free-to-air and pay-TV channels in Germany, Austria and Switzerland, including ProSieben, Sat.1 and Kabel 1. It has so far resisted MFE's calls to join its pan-European project, seeking to remain independent.
Pier Silvio Berlusconi, CEO of MFE-MediaForEurope, said: “It is time to switch gear. We believe that ProSiebenSat.1 needs a strong shareholder that can provide expertise and experience in the industry, making an active contribution to its growth journey.
Berlusconi added: “The aim is to create a cross-media, cross-national pan-European group that naturally acts as an alternative to the digital giants and succeeds in the ambitious goal of being able to compete and grow.”
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