TV group
Berlusconi increases ProSiebenSat.1 stake
Italian ex-prime minister Silvio Berlusconi. Photo: Andrew Medichini/AP/dpa
© dpa-infocom GmbH
Two months before the annual general meeting, Silvio Berlusconi is expanding his influence at Germany’s largest television company. Now it’s the regulators turn.
The media entrepreneur and former Italian Prime Minister Silvio Berlusconi has further increased his stake in the German ProSiebenSat.1.
Berlusconi’s Media For Europe group announced on Monday that it now controls more than 25 percent of the voting rights. The Bavarian State Center for New Media (BLM) announced that a nationwide test procedure is now starting. The Commission for Determining Concentration in the Media Sector is also involved in this.
Berlusconi’s holding company, which is run by his son and an old confidant, includes the Milan-based Mediaset group and 56 percent of Mediaset España. With more than 25 percent of the voting rights, he is also by far the largest shareholder in ProSiebenSat.1 and has declared that he wants to implement long-term strategic goals there.
However, ProSiebenSat.1 boss Rainer Beaujean is very skeptical about a Europe-wide television business. He sees no synergies in this, wants to concentrate on the TV business in Germany, Austria and Switzerland and expand local content. ProSiebenSat.1 initially did not comment on the major shareholder exceeding the 25 percent threshold. The company has invited to the general meeting for May 5th.
A week ago, Bavaria tightened its media law and gave the BLM more powers to intervene if it sees the diversity of information at a private broadcaster as being endangered by a shareholder. In this way, the Free State wants to better secure an independent and pluralistic media landscape.