Springer takes over ProSieben

Bennett, Ray; Williams, Chad
August 2005
Hollywood Reporter -- International Edition;8/9/2005, Vol. 390 Issue 20, p48
This article reports that Axel Springer Verlag AG has agreed to acquire ProSiebenSat.1 Media AG from a group led by Haim Saban in a 2.5 billion euros deal that will shake up the German media landscape by merging the country's largest newspaper publisher with its top commercial TV broadcaster. Springer will buy the entire stake in ProSieben held by Saban's P7S1 Holding, paying 23.37 euros per share for common shares and 14.10 euros per share for preference shares. The agreement, announced by Springer and Saban at a news conference, gives Springer 100% control of ProSieben's voting shares and 62.5% of the company's capital.


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