ProSiebenSat.1 on the block

KKR, Permira hire JPMorgan to explore sale

A juicy European asset just went on the block as the private equity owners of Germany’s ProSiebenSat.1 Media want to shed their 53% interest in the giant broadcaster.

Buyout firms KKR and Permira have hired JPMorgan to explore a sale this year, according to a report in the Financial Times.

With domestic markets fairly saturated, U.S. media companies have been actively expanding overseas, keeping close tabs on what’s for sale. Bidders for the asset could include Time Warner, Comcast, News Corp. and German publisher Axel Springer.

KKR and Permira bought the stake in 2006 for 3.1 billion euros (about $4 billion).

Late last year, ProSiebenSat.1 sold Scandinavian-based SBS Broadcasting Group to Discovery Communications for $1.7 billion.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More TV News from Variety

Loading