Berlusconi acquires ProSiebenSat.1 shares from PPF

The Berlusconi family's media conglomerate, Media For Europe (MFE), is edging closer to acquiring ProSiebenSat.1, following the Czech PPF Group's decision to sell its shares in MFE.

The preliminary takeover deadline was not met by either company, but MFE took the lead in the bidding war, offering a higher bid compared to the PPF Group. The deadline for the sale of shares in ProSiebenSat.1 officially runs until September 1.

Pier Silvio Berlusconi, son of the late media entrepreneur and former Italian Prime Minister Silvio Berlusconi, is a media entrepreneur leading the Berlusconi family’s media empire since 2015. He has been accused of ties to right-wing populist parties and Russia, as well as Vladimir Putin. However, the Berlusconi family has always rejected these allegations.

MFE already held over 40 percent of the shares in MFE before the sale by PPF. With the Czech investor's decision, MFE is now closer to reaching a majority stake in ProSiebenSat.1, as they already hold a simple majority at general meetings with their over 40 percent shares.

ProSiebenSat.1 has not yet commented on the PPF announcement, but had previously recommended its shareholders to accept the offer from Media For Europe. If the acquisition is finalized, MFE may gain control over one of Europe's largest private broadcasters.

Media State Minister Wolfram Weimer (independent) has expressed concern about the journalistic independence of ProSiebenSat.1 and announced that he wants to meet with Berlusconi to discuss the matter. The takeover of ProSiebenSat.1 by MFE may now be imminent, but the decision is yet to be finalized.

The PPF Group previously held approximately 15 percent of the shares in MFE, and their decision to sell follows their inability to gather sufficient shareholder support for their goals and their withdrawal from their engagement with ProSiebenSat.1. MFE is now no longer able to work with PPF as a strategic investor on an equal footing.

As the acquisition progresses, questions remain about the potential impact on the media landscape in Europe and the future of journalistic independence at ProSiebenSat.1. TheBerlusconi family's media empire continues to expand, with the potential acquisition of ProSiebenSat.1 marking a significant milestone.