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ProSiebenSat.1 Media
ProSiebenSat.1 Media SE (officially abbreviated as P7S1, formerly ProSiebenSat.1 Media AG) is a German mass media and digital company based in Unterföhring near Munich. MediaForEurope owns 75.61% of the company. It operates in three segments: Entertainment, Dating and Commerce & Ventures. The company is listed on the Frankfurt Stock Exchange.
KirchMedia GmbH & Co. KG aA became the majority shareholder in ProSieben Media AG at the end of 1999. ProSieben Media AG merges with another Kirch group subsidiary, Sat.1 SatellitenFernsehen GmbH, in 2000. The newly created company controlled various TV channels such as SAT.1, ProSieben and Kabel Eins. Since 2 October 2000, the shares of ProSieben Media AG have been traded under the name ProSiebenSat.1 Media AG (ProSiebenSat.1) on the Frankfurt Stock Exchange. As part of the integration of Sat.1, ProSieben Television GmbH was established.
The company nearly merged with KirchMedia GmbH in 2002, but the merger failed due to the Kirch group's insolvency. The ProSiebenSat.1 stock price crashed following the failed merger.
In 2003, the creditors' committee chose P7S1 Holding, a subsidiary of Haim Saban's Saban Capital Group, as the buyer of 71.98 percent of the voting rights, making it the new main shareholder of ProSiebenSat.1. Saban took over the company for €500 million. The remaining 11.49 percent were held by Axel Springer and 16.53 percent by the Kirch Group, each through an investment company.
After the takeover through P7S1 Holding, the company was restructured, and some TV shows were cancelled. The company's TV channels, aimed at an age group of 14 to 49 years, had a market share of more than 30 percent and earned €1.8 billion in 2002, making a profit of €21 million. In the same year, the company had over 3000 employees.
When chairman Urs Rohner left the company by 30 April 2004 "at his own request", Belgian Guillaume de Posch became the new chairman.
In 2005, Axel Springer Verlag offered to buy the company for €3 billion, but this purchase was blocked by the Federal Cartel Office and the Commission on Concentration in the Media. Springer announced it would withdraw the offer on 31 January 2006.
Haim Saban's shares were bought by Permira, a private equity company, and Kohlberg Kravis Roberts (KKR) for about €3 billion on 14 December 2006. The shareholding was merged with Permira and KKR's other European media shareholding SBS Broadcasting Group based in Luxemburg. SBS was made up of 19 private TV channels, 20 pay TV channels and radio stations. This made the merged company the second-largest television provider in Europe.
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ProSiebenSat.1 Media
ProSiebenSat.1 Media SE (officially abbreviated as P7S1, formerly ProSiebenSat.1 Media AG) is a German mass media and digital company based in Unterföhring near Munich. MediaForEurope owns 75.61% of the company. It operates in three segments: Entertainment, Dating and Commerce & Ventures. The company is listed on the Frankfurt Stock Exchange.
KirchMedia GmbH & Co. KG aA became the majority shareholder in ProSieben Media AG at the end of 1999. ProSieben Media AG merges with another Kirch group subsidiary, Sat.1 SatellitenFernsehen GmbH, in 2000. The newly created company controlled various TV channels such as SAT.1, ProSieben and Kabel Eins. Since 2 October 2000, the shares of ProSieben Media AG have been traded under the name ProSiebenSat.1 Media AG (ProSiebenSat.1) on the Frankfurt Stock Exchange. As part of the integration of Sat.1, ProSieben Television GmbH was established.
The company nearly merged with KirchMedia GmbH in 2002, but the merger failed due to the Kirch group's insolvency. The ProSiebenSat.1 stock price crashed following the failed merger.
In 2003, the creditors' committee chose P7S1 Holding, a subsidiary of Haim Saban's Saban Capital Group, as the buyer of 71.98 percent of the voting rights, making it the new main shareholder of ProSiebenSat.1. Saban took over the company for €500 million. The remaining 11.49 percent were held by Axel Springer and 16.53 percent by the Kirch Group, each through an investment company.
After the takeover through P7S1 Holding, the company was restructured, and some TV shows were cancelled. The company's TV channels, aimed at an age group of 14 to 49 years, had a market share of more than 30 percent and earned €1.8 billion in 2002, making a profit of €21 million. In the same year, the company had over 3000 employees.
When chairman Urs Rohner left the company by 30 April 2004 "at his own request", Belgian Guillaume de Posch became the new chairman.
In 2005, Axel Springer Verlag offered to buy the company for €3 billion, but this purchase was blocked by the Federal Cartel Office and the Commission on Concentration in the Media. Springer announced it would withdraw the offer on 31 January 2006.
Haim Saban's shares were bought by Permira, a private equity company, and Kohlberg Kravis Roberts (KKR) for about €3 billion on 14 December 2006. The shareholding was merged with Permira and KKR's other European media shareholding SBS Broadcasting Group based in Luxemburg. SBS was made up of 19 private TV channels, 20 pay TV channels and radio stations. This made the merged company the second-largest television provider in Europe.