Sport 1, Sky, and P7S1 Heat Up Northern Munich During Autumn Season

In a significant move, Media for Europe (MFE) has acquired a majority stake in ProSiebenSat.1, creating Europe's largest private broadcaster. This move comes as the German television advertising market faces stagnation and increasing pressure from international streaming giants.

The acquisition, which took place in August 2025, saw MFE reach 58.6% of shares in ProSiebenSat.1 after the long-standing shareholder PPF sold its shares to MFE. With this, MFE now holds approximately 76% of ProSiebenSat.1's shares, giving them a significant decision-making power in the company.

The takeover was not without competition. Visoon CEO Franjo Martinovic has expressed his eagerness to compete with the top-positioned ProSiebenSat.1. However, MFE's long-term investment and commitment in ProSiebenSat.1, as underscored by their improved offer in August, seem to have tipped the scales in their favour.

The improved offer, calculated to be around ten percent above the stock market price, involved a split between cash payment and MFE shares. This move was seen as a strategic one, reflecting MFE's European vision to compete with US giants in the markets.

Meanwhile, ProSiebenSat.1's rival, RTL, is focusing on Sky's return to profitability by 2026. The profit opportunity, according to RTL, lies in reducing joint costs. Elsewhere, Sky's transformation into a hybrid sports entertainment channel is underway, led by CEO Matthias Reichert.

The competition authorities are unlikely to recognise too high a concentration and weakening of competition in the Sky takeover. The advertising market, however, hopes that these structural changes do not come at the expense of production. A potential growth period in the second half of the year could help the companies implement their future strategies.

Inside ProSiebenSiebenSat.1, there have been changes in the management. Robin Seckler and Matthias Kirschenhofer have vacated their positions at Sport 1. Tufan Ozkul is now managing all three Sport 1 companies operationally to facilitate a quick restructuring phase, potentially implying further layoffs.

Meanwhile, MFE's takeover of ProSiebenSat.1 has not been without controversy. In September, MFE's invitation to Berlusconi to the Chancellery is scheduled. Most stock market analysts recommend "hold" for ProSiebenSat.1 shares, but the participation rate at ProSiebenSat.1's annual general meetings is usually around 70%.

As MFE continues to consolidate and strengthen its market position, the landscape of European broadcasting is set for significant changes. Whether this will lead to increased competition, consolidation, or a new era of innovation remains to be seen.