French web could invest up to $164 mil
BERLIN — French TV group TF1 is considering joining Haim Saban in the takeover of Germany’s largest broadcasting group, ProSiebenSat.1, with a 10% stake.
Speaking at a shareholders’ meeting in Paris Wednesday, TF1 topper Patrick Le Lay said he would propose to the company’s supervisory board a €100 to €150 million ($109-$164 million) investment in ProSiebenSat.1. Le Lay has been in talks with Saban since the latter edged out rival bidders last month for the core asset of the fallen Kirch media empire.
Saban, who is also in talks with other potential investors, including Italy’s Mediaset, has said TF1 is free to take up to a 50% stake in the group.