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German network merger approved

Sat.1, ProSieben unite to form most profitable Teuton web

BERLIN — Shareholders on Tuesday approved the merger of two of Germany’s three big commercial webs, SAT.1 and ProSieben.

The new holding, ProSiebenSAT.1 Media, is Germany’s largest broadcasting group in terms of revenues.

Group controls four nationwide channels, including second-generation web Kabel.1 and news channel N24.

ProSiebenSAT.1 is majority owned by the German-based Kirch Group, which was able to press ahead with the merger after acquiring the majority stake in ProSieben late last year.

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