MediaForEurope, the TV group controlled by Italy’s Berlusconi family, has raised its stake in German broadcaster ProSiebenSat.1 to 75.61%, and will become the majority shareholder. MFE’s move values ProSiebenSat.1 at about 1.8 billion euros ($2.1 billion).
Czech group PPF, the second largest shareholder in ProSiebenSat.1, has decided to tender its shares, representing 15.68% of ProSiebenSat.1’s share capital, into the MFE offer.
According to research firm Enders Analysis, following completion of the deal, MFE will become Europe’s biggest free-to-air broadcasting operator, with revenues of 6.8 billion euros ($7.92 billion). As well as its German business, ProSiebenSat.1 also operates in Austria and Switzerland, while MFE runs TV operations in Italy and Spain.
As to why this deal could make sense Enders Analysis in its report noted that “European broadcasters suffer from a double handicap when competing with U.S.-based platforms for advertising budgets, being sub-scale and fragmented.”
“MFE argues that platforms such as YouTube and Amazon Prime can strike global and regional deals with multinational advertisers while broadcasters operating in a single territory cannot compete,” the report added. It goes on to point out that “MFE viewing takes place on television screens and involves expensive local content, resulting in much higher quality of engagement than on YouTube or TikTok,” so that now “MFE will be able to mount a sustainable alternative to U.S. platforms.”
MFE, which is headed by Pier Silvio Berlusconi — who is the son of the late former Italian Prime Minister and TV tycoon Silvio Berlusconi — has long been building a growing stake in ProSiebenSat.1 and plotting a ProSiebenSat.1 takeover as part of its plan to create a pan-European advertising-funded network.
Bert Habets, group CEO of ProSiebenSat.1, said: “MFE becoming our majority shareholder marks an important milestone for ProSiebenSat.1. Together, we cover five core European markets, with ProSiebenSat.1 being a leader in Germany, Austria and Switzerland, and MFE in Italy and Spain, reaching a combined population of about 210 million people.
“In the coming weeks, we will work closely with MFE to identify the most promising opportunities for a deepened collaboration and align our vision for the future.”
In a statement, ProSiebenSat.1 said it “remains focused on driving the digital transformation of the entertainment business and increasing value for all stakeholders.” It added that “building on the progress achieved in the first half of 2025, ProSiebenSat.1 is committed to further establishing Joyn as the leading advertising-financed streaming platform in the German-speaking region, continuing to drive significant, double-digit growth in reach and engagement.”