TV

Reports: ProSieben private equity owners looking to exit

According to numerous reports, the private equity owners of German media group ProSiebenSat.1 have retained JP Morgan to look into possibilities for a partial or full exit.
February 4, 2013

According to numerous reports, the private equity owners of German media group ProSiebenSat.1 have retained JP Morgan to look into exit possibilities.

The firms KKR and Permira bought a majority stake in the company in 2006. Sources have told the Financial TimesĀ  and Reuters that the firms are keen to explore options for either a partial or full exit.

In December, it was announced that Discovery Communications was going to purchase ProSieben’s SBS Nordic operations for approximately US$1.7 billion – a deal that sees the U.S.-headquartered non-fiction giant take control of 12 television networks in Norway, Sweden, Denmark and Finland, among other assets.

That deal is expected to close during this quarter.

Sources have told the Financial Times that potential buyers may include News Corp., Time Warner and Comcast, among others.

Thus far, ProSiebenSat.1 and representatives for KKR and Permira have declined comment.

About The Author
Daniele Alcinii is a news reporter at realscreen, the leading international publisher of non-fiction film and television industry news and content. He joins the rs team with journalism experience following a stint out west with Sun Media in Edmonton's Capital Region, and communications work in Melbourne, Australia and Toronto. You can follow him on Twitter at @danielealcinii.

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