Status: 09/13/2022 11:03 a.m
The television group ProSiebenSat.1 is driving forward its digital transformation. He takes over the remaining 50 percent of the streaming platform Joyn.
ProSiebenSat.1 wants to completely take over the Joyn streaming service. The television group will take over the remaining 50 percent of the shares in the joint venture founded in 2017 from its previous partner Warner Bros. Discovery. With the complete takeover, the digital transformation of the group continues, said ProSieben boss Rainer Beaujean. “Having full control over Joyn gives us the entrepreneurial flexibility to do this.”
The group from Unterföhring near Munich did not provide any information on the purchase price. The management expects antitrust clearance from October 1st. With the Joyn app, viewers can stream live television, in-house productions and US series. At the beginning of the year, ProSiebenSat.1 switched off the station’s own apps and justified this by focusing on a single offer.
Earnings forecast lowered
The management initially expects the acquisition to have a negative impact. Earnings before interest, taxes, depreciation and amortization (Ebitda) will be around 25 million euros lower. Accordingly, the annual target was reduced to 780 million euros plus/minus 25 million euros. The broadcasting chain is sticking to its sales forecast for 2022 of 4.375 billion euros plus/minus 75 million euros. The dividend for the current year is to remain at 80 cents per share.