MFE Completes ProSiebenSat.1 Takeover, Plans Board Reshape
MFE, the new majority owner, has secured a 75.6% stake in ProSiebenSat.1, taking control from PPF which withdrew its bid and sold its 15.68% share. MFE aims to reshape the supervisory board of the German media company.
The takeover concluded two weeks ago, following which ProSiebenSat.1 revised its annual forecast downward. The company's stock is currently trading at 5.75 euros, significantly below its 52-week high and the takeover price of 6.25 euros offered by MFE.
Despite challenges, ProSiebenSat.1's streaming service Joyn has demonstrated remarkable growth. In October 2024, it recorded an 80% increase in viewers, reaching 10 million for the first time. However, advertising revenues in entertainment have been declining, with mid-single-digit percentage decreases in Q3 and a slight decline expected in Q4.
Market doubts persist about the expected synergies from the European media alliance. The Q3 results, due in November, will provide more clarity on the current crisis depth. A free analysis issued on October 8 offers advice to ProSiebenSat.1 shareholders on whether to buy or sell the stock.
MFE's acquisition of ProSiebenSat.1 is complete, with the Italian company now pushing for changes in the supervisory board. The German media company faces challenges, including downward revisions in its annual forecast and declining advertising revenues. However, Joyn's impressive growth offers a glimmer of hope. The upcoming Q3 results and market analysis will provide further insights into ProSiebenSat.1's future prospects.
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