Renáta Kellnerová’s PPF Group increases stake in Germany’s ProSiebenSat.1

Czech billionaire Renáta Kellnerová has increased her stake in German media group ProSiebenSat.1.

Renáta Kellnerová

Holding company the PPF Group, which she controls, increased its stake to 15.04%, according to a statement on Friday. PPF now owns 11.6% of the voting rights.

The growing stake shows that PPF is a long-term investor that can support ProSiebenSat.1 within the television business, said Didier Stoessel, who is responsible for PPF’s investments.

PPF Group operates several television and online media companies in central and south-eastern Europe, such as Central European Media, which has a large number of channels.

The group had announced a shareholding in ProSiebenSat.1 in February, at which time it held a total of 9.1% of the shares.

PPF is the second largest shareholder of ProSiebenSat.1 behind Media For Europe. The group, which is controlled by the family of the former Italian prime minister Silvio Berlusconi, owns almost 30% of the Unterföhring-based company.

The news comes despite ProSiebenSat.1 this week announcing a 12% drop in its ad revenue in the first quarter of 2023.