×

KKR, Permira Exit from German Broadcaster ProsiebenSat.1

Private equity firms sells 17% stake for $1.7 billion

LONDON — Private equity firms Kohlberg Kravis Roberts and Permira have completed their exit from German broadcaster ProsiebenSat.1.

The firms have sold their remaining 17% stake in the company to unnamed institutional investors for Euros 1.26 billion ($1.7 billion). Dow Jones Newswires said demand was particularly strong in the U.S.

KKR and Permira bought a controlling stake in ProSieben in 2006, and merged it with media group SBS Broadcasting, which they had acquired a year earlier. They have since been selling off their shares in stages.

ProSieben shares have risen 47% in the past year as revenue forecasts have improved. Its share were trading at Euros 35.10 ($47.59) on Friday. Optimism has been fueled by its success in converting customers of its TV operations to its online services.

It is expected to join the DAX, the index for blue-chip stock trading on the Frankfurt Stock Exchange, later this year.

ProSieben owns Red Arrow Entertainment, which produces and sells TV shows to TV stations worldwide, including ABC’s cooking format “The Taste.” It also co-produces drama series for the international market, such as Netflix’s “Lilyhammer” and “Jo,” starring Jean Reno. Red Arrow owns 18 production companies in nine countries, including Endor Prods. in the U.K., which produced “The Escape Artist,” starring David Tennant, and “Restless,” starring Hayley Atwell, and Kinetic Content in the U.S.

More TV

  • Riz Ahmed

    'Lives Are Quite Literally at Stake': Riz Ahmed on Seeing More Muslims On Screen

    Art can provoke feeling, but its impact has limitations in the face of legal and systemic oppression, said Riz Ahmed, the activist and actor known for “The OA,” “Rogue One: A Star Wars Story” and “The Night Of,” onstage at the CAA Amplify conference in Ojai on Tuesday, calling for the high-powered industry execs, talent, [...]

  • Discovery Corporate New Logo

    Discovery Faces Backlash From Unscripted Producers After Shift in Series Payment Process

    Discovery Inc. is facing a backlash from the unscripted production community following a shift in the cable giant’s protocol for paying for programming. During the past year, Discovery has implemented a new system that calls for the company to pay producers for shows after all episodes and related material for a given season have been [...]

  • "The Curse of Cleopatra - Parts

    'Blood & Treasure' Renewed for Season 2 at CBS

    The CBS summer adventure series “Blood & Treasure” has been renewed for a second season. In the series, Danny McNamara (Matt Barr) is a former FBI agent specializing in stolen arts and antiquities. Lexi Vaziri (Sofia Pernas) is a resourceful art thief who is haunted by the tragic loss of her father, which she blames [...]

  • Side-Games-1

    Spectrum Originals Picks up Soccer Drama ‘Side Games’ for U.S. Distribution

    Charter Communications’ OTT service Spectrum Originals has reached a deal with Spain’s The Mediapro Studio for the U.S. rights to its popular series “Todo por el Juego,” (“Side Games”). The series will debut in the States on July 15. The Mediapro Studio produced the series, which was developed by popular Argentine screenwriter Eduardo Sacheri, a [...]

  • Mary J Blige Walk of Fame

    Mary J. Blige Inks First-Look TV Deal With Lionsgate

    Mary J. Blige has signed an exclusive first-look television deal with Lionsgate. Under the pact, Blige and her newly-launched Blue Butterfly productions will develop and produce TV series for the studio. The singer-actress will also have the opportunity to create content across Lionsgate’s various business platforms. “Mary is a very talented artist, fearless visionary and an [...]

  • Discovery Names Andrew Georgiou Eurosport and

    Discovery Taps Andrew Georgiou as Eurosport and Sports Rights Boss

    Andrew Georgiou has been appointed president of Discovery-owned Eurosport. The sports channels and streaming service has been without a chief since Peter Hutton left for Facebook. Georgiou assumes a wider role than Hutton, running Eurosport as well as overseeing sports rights and marketing across Discovery. It has been moving aggressively into the sports sector, licensing [...]

More From Our Brands

Access exclusive content