Springer Group Takes Majority Stake in German TV Titan

08 August 2005

Europe's largest newspaper publisher, Berlin-headquartered Axel Springer, last week agreed to take a majority holding in Germany's largest private television broadcaster ProSiebenSat.1 Media.

The controlling stake - for which € 2.47 billion ($3.04bn; £1.71bn) changed hands - was acquired from a group of investors led by 'Teenage Mutant Ninja Turtle'-enriched US billionaire Haim Saban.

The deal boosts Springer's existing 12% stake in ProSieben to the equivalent of 62.5% of the broadcaster's capital and voting rights. However, the takeover is subject to regulatory approval required under Germany's cartel and media-supervision laws.

Comments Alexander Mogg, a media partner at Mercer Management Consulting in Munich: "In the mid- and long-term, the TV business probably also has more growth opportunities than the print business. Especially the young generation of consumers prefers visual media products, so Springer is well advised to expand its TV business."

Data sourced from BBC Online; additional content by WARC staff