ProSieben Invests in Interactive TV Firm

22 May 2001

Germany’s biggest free-TV broadcaster ProSiebenSAT.1 yesterday unveiled its first foray into interactive home shopping, with the E67 million ($59m) purchase of a 48.4% holding in television company Euvia Media.

The stake is being bought from home shopping channel HOT Network, which retains a 48.6% interest. Announcing the deal, the broadcaster said it will also plough E112m in long-term loans into Euvia.

ProSieben – majority-owned by media giant Kirch Gruppe – added that Euvia’s German TV channel tm3 is planning to devote itself to special-interest interactive features later this year. In addition, Euvia intends to launch an extra channel dedicated to travel and tourism in 2002.

News source: Financial Times