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.
Popular on Variety
Kit Harington on 'Game of Thrones' Ending, Women of Westeros
John Lithgow and Laurie Metcalf on Playing the Clintons: 'There's a Tremendous Undertow of Melancholy'
Kevin Costner on Oscar Netflix Controversy: 'Movies Are for Theaters'
Jordan Peele on the Message Behind 'Us'
Charlize Theron, Seth Rogen Weigh in on Theatrical vs. Streaming
Kathy Bates on Netflix Awards Debate: Short Theatrical Releases Are 'Dirty Pool'
In today’s roundup, The CW has released two clips from the upcoming “Riverdale” special “Heathers: The Musical,” and Chris O’Dowd will star in an episode of “The Twilight Zone.” CASTING Chris O’Dowd will star in CBS All Access’ rebooted “The Twilight Zone” episode titled “The Blue Scorpion.” The series will premiere with two episodes on [...]
The sudden ouster of Warner Bros. Entertainment chief Kevin Tsujihara kicked off what is likely to go down as one of the most extraordinary weeks in Hollywood history, spelling enormous turmoil and transition across the media landscape. In addition to the news about Tsujihara, which comes amid a wider shake-up of leadership at AT&T’s WarnerMedia, [...]
Wendy Williams, during an emotional monologue on her talk show on Tuesday, revealed through tears that she has been staying at a sober-living house. “So you know me for being a very open and truthful person,” she began the segment on “The Wendy Williams Show,” fighting through tears. “And I’ve got more to the story [...]
At a time of heightened scrutiny of tax affairs in China’s entertainment sector, even industry veterans in Hong Kong are struggling to figure out how to operate in the new financial environment and pleading for more clarity from the Chinese government. Hong Kong produces about 60 films a year, three-quarters of which are typically co-productions [...]
How do you put music to child sexual abuse — especially if the accused predators are musical icons? That’s the challenge composers Chad Hobson and Nathan Matthew David faced as they scored HBO’s “Leaving Neverland” and Lifetime’s “Surviving R. Kelly,” respectively. The documentaries are built around interviews with the alleged victims of Michael Jackson (two [...]
Guru Studio, an award-winning Canadian animation studio, is exploring the possibility of opening an office in Hong Kong or mainland China. The Toronto-based company is keen to get a slice of China’s animation market, which has been growing quickly. Louise Jones, Guru vice president of finance and business affairs, said at a FilMart panel discussion [...]
Viacom has declared war against AT&T, blasting the telco giant on several fronts as the companies wrestle over a carriage renewal deal that is vital to Viacom’s long-term financial health. As of today, Viacom has begun running crawls and promo spots on its channels warning viewers that Nickelodeon, Comedy Central, BET, MTV and other channels [...]