Litigation could stall sale for at least a year
The heat is on Axel Springer and Haim Saban as opposition continues to mount against the German publisher’s bid for Saban’s ProSiebenSat.1 terrestrial TV group.
Saban is in preliminary talks with potential buyers, including NBC Universal, according to a report in Friday’s daily paper Sueddeutsche Zeitung.
Springer’s $3 billion bid for the group was recently rejected by German antitrust and media regulators, but the publisher could still get a special waiver from the government for the deal.
However, rival newspaper publisher M. DuMont Schauberg is reportedly ready to file a lawsuit to block the waiver and other companies are expected to follow suit.
Litigation could stall the ProSiebenSat.1 sale for at least a year, something Springer and Saban are unlikely to accept.