Do, Mrz 21. 2024
ProSiebenSat.1 faces a pivotal moment as MFE, its major shareholder, advocates for a division, emphasising a focus on entertainment.
ProSiebenSat.1’s major shareholder Media For Europe (MFE) is calling for the media group to be split up.
The important entertainment television business should be separated from the “peripheral activities” of e-commerce and dating in order to focus on the core business.
A spin-off would result in two listed companies. MFE intends to submit a corresponding proposal for the spin-off at the ProSiebenSat1 Annual General Meeting on April 30.
ProSiebenSat.1 is divided into three segments: The Entertainment business, with Joyn at its core, was responsible for two thirds of Group revenues in 2023, primarily through advertising in Germany, Austria and Switzerland. Around 80% of the operating result adjusted for special effects (EBITDA) comes from the core business.
A thorn in MFE’s side, however, is the dating division (ParshipMeet Group) and the e-commerce business with companies such as Flaconi, Verivox and Jochen Schweizer Mydays – all of which MFE wants ProSiebenSat.1 to divest. According to the ProSiebenSat.1 website, MFE holds around 26 percent of the shares.
As recently as Wednesday, ProSiebenSat.1 Supervisory Board Chairman Andreas Wiele called for a rapid restructuring of the Group with a focus on television and streaming.
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