Germany's Springer to Quit TV Sector

12 December 2007

BERLIN: Europe's largest newspaper publisher Axel Springer is set to sell its 12% stake in German broadcaster ProSiebenSat.1 Media to two of the latter's stockholders, private equity firms Kohlberg Kravis Roberts and Permira.

The decision to sell comes after antitrust regulators blocked the acquisition, citing fears that it would enable the media titan (with Bertelsmann) to dominate the nation's advertising market.

ProSieben's four main channels are Sat.1, N24, ProSieben and Kabel 1. The sale is reportedly worth in excess of €509 million ($748.33m; £367.06m).

Data sourced from Wall Street Journal Online. additional content by WARC staff