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Mediaset takes ProSiebenSat.1 stake

Italian and Spanish commercial TV operator Mediaset has acquired a minority stake in German broadcaster ProSiebenSat.1 Media with a view to fending off “eventual attacks by the global giants.”

The purchase of the the 9.6% stake, financial details of which were not disclosed, comes as Mediaset Italia and Mediaset España have formed a strong relationship with ProSiebenSat.1 via the European Media Alliance over the past five years.

The goal of the alliance is to develop scale economies that are crucial for the future of European TV, according to Mediaset.

Mediaset CEO Pier Silvio Berlusconi said the acquisition of the ProSiebenSat.1 stake was a “sign of confidence in the future of free-to-air European TV.”

He added: “The friendly acquisition of a stake in ProSiebenSat.1 is a long-term choice aimed at creating value with an increasingly international outlook. It strengthens our existing industrial relationship.

“The rapid process of globalisation that is determining the international scenario is such that European media companies like us need to join forces if we are to continue to compete, or even just resist, in terms of our European cultural identity, eventual attacks by the global giants.”

Max Conze, CEO of ProSiebenSat.1 Media, said: “We welcome Mediaset’s investment and see this as a vote of confidence in our strategy and the team.”

ProSiebenSat.1 is one of Europe’s leading television groups, with a prominent presence in Germany, Austria and Switzerland.

Mediaset operates three national channels in Italy (Canale 5, Italia 1 and Retequattro) and two in Spain (Telecinco and Cuatro).

It has launched 10 new free-to-air thematic channels in recent years: Iris, La5, 20, Focus, Mediaset Italia2, Mediaset Extra, Top Crime, Boing, Cartoonito and news channel TgCom24. It also operates online video streaming service Infinity.

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