- ProSiebenSat.1 welcomes Mediaset as its new shareholder
- Next steps of the shareholder deal remain uncertain
- Mediaset plans to create a Dutch holding company
German broadcaster ProSiebenSat.1 has confirmed Mediaset as a shareholder in a strategic move to champion the development of pan-European alliances.
Mediaset successfully acquired a 9.6% stake in ProSiebenSat.1 last month with ProSiebenSat.1 chief executive Max Conze telling press yesterday during its earnings call it welcomed the new shareholder. However, Conze declined to comment on next steps for the relationship.
The Italian-based Mediaset said it was open to a merger, however, ProSiebenSat.1 has remained tight-lipped on where the deal will lead or on the changes its new shareholder could encourage.
According to reports, Mediaset has plans to create a Dutch holding company that would serve as a platform for developing pan-European alliances to counter the challenge from US streaming rivals led by Netflix.
Conze told the press that the two businesses have a strong relationship.
He said: “We are happy to have Mediaset as an investor and supporter of our strategy.”
Last month Mediaset denied a request from Vivendi to hold an extraordinary shareholder meeting to revoke a recently adopted share loyalty scheme that would allow the Berlusconi family to tighten its grip on the Italian broadcaster.
French company Vivendi had challenged the Mediaset Board to hold another vote on the issue in hoping to scupper the proposal, but this was rejected by Mediaset, according to reports in Italy.