Revenue: $1.8 billion
Profit: $60.5 million
The future of ProSiebenSat 1, Germany’s biggest broadcasting group, remains up in the air as bankrupt parent company Kirch Media is in the process of being auctioned off to the highest bidder.
The jewel of Kirch Media, ProSiebenSat 1 has become the main attraction for potential investors: With hit U.S. series like “Roswell,” “Sex and the City,” “Will & Grace,” “Buffy the Vampire Slayer,” “Dawson’s Creek,” “Futurama” and “Star Trek” franchises, the broadcaster is a favorite among young viewers and has piqued the interest of major players such as Sony, Viacom, News Corp. and Haim Saban.
ProSiebenSat 1 continues to stress that it has not been affected by the insolvency of Kirch Media. Although it did get most of its films and series delivered via the parent company, ProSiebenSat 1 was sufficiently insulated and independent to remain more or less unscathed.
Indeed, in July, the group ponied up $17 million for 16 films from local distrib Splendid Media at a time when Kirch Media was seeking to boost its film sales to the broadcaster.
Also in July, ProSiebenSat 1 issued $200 million in high-interest seven-year bonds via Deutsche Bank for the international market. Chairman Urs Rohner says the bond issue will optimize the group’s finances in the long term and secure the group’s overall financial planning.