Germany’s ProSiebenSat.1 extends Bert Habets’ contract as MFE increases stake

Germany’s ProSiebenSat.1 has extended the contract of group CEO Bert Habets for another three years, equipping him with the mandate to continue the transformation of the Munich-based media company.

Bert Habets

ProSiebenSat.1/Amelie Niederbuchner

With Habets in control until at least October of 2028, ProSiebenSat.1 says that he will sharpen the focus of the outfit on its core business and develop it into the leading entertainment company in the Germany, Austria and Switzerland (DACH) region.

Former RTL Group CEO Habets was named boss of ProSiebenSat.1 in October of 2022, replacing Rainer Beaujean who stepped down from his position in mutual agreement with the ProSiebenSat.1 supervisory board.

The company has “achieved significant successes” in a “challenging market environment” under Habets’ leadership, it claims. He has overseen a strategy that has seen streamer Joyn grow to attract 10 million monthly users, while selling off group-owned companies such as e-commerce platform Verivox, Urban Sports Club and About You.

However, ProSiebenSat.1 has endured a turbulent relationship with some of its major shareholders. Czech investor PPF and Italian media group MediaForEurope (MFE) have both pressured management to divest itself of non-core assets and focus on entertainment.

Controlled by the family of Silvio Berlusconi, the late prime minister of Italy, MFE has increased its stake in ProSiebenSat.1 to just over 30% and last month launched a takeover bid as part of its ambition to build a pan-European broadcaster that can compete with US streamers such as Netflix.

Andreas Wiele, outgoing chairman of ProSiebenSat.1’s supervisory board said: “I would like to congratulate Bert Habets on the extension of his contract. With this decision, the supervisory board is sending an important signal of stability which also finds the support of my designated successor Maria Kyriacou.

“Bert Habets’ strong identification with the company, his leadership skills, and integrity, coupled with his media expertise and strategic foresight, continue to make him the ideal person for this task. I am confident that Bert Habets will continue to steer the company on the right path toward sustainable and profitable growth.”

Habets said: “In recent years, we have reached important milestones in transforming ProSiebenSat.1 into a digital entertainment company. I therefore look forward to continuing to work on our strategic goals and further growing and strengthening our Entertainment footprint in DACH together with my highly committed team.

“I would like to thank the Supervisory Board for the trust it has placed in me and look forward to continuing our work together.”