Mediaset accelerates on potential merger with Prosiebensat
Mediaset [BIT:MS], the Italian TV broadcaster, is moving closer on proposing a merger with German TV broadcaster Prosiebensat 1 [ETR: PSM], the Italian-language daily Milano Finanza reported. The report cited market rumours claiming that the dossier will be discussed at a Mediaset board meeting at the beginning of February.
The item said that the bid is a part of Mediaset's plans to create a pan-European free TV broadcasting group. The report noted, however, that the involvement of French TV group TF1 [EPA:TFI] in a three-way merger of the three media groups is no longer on the cards, partly due to the rising political tensions between France and Italy.
The report noted that Mediaset is in any event likely to prefer a merger with Prosiebensat because it is a public company active in 13 countries.
The report added that Prosiebensat is similar in size to Mediaset with a turnover of EUR 2.68bn and EBITDA of EUR 634m compared to Mediaset's turnover of EUR 2.43bn and EBITDA of EUR 753.7m.
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