The Italian media group MediaForEurope (MFE), controlled by the Berlusconi family, has raised its bid for the German media company ProSiebenSat.1. MFE's offer now stands at 8.62 euros per share, including 4.48 euros in cash and 1.3 of its own shares. This move has sparked concerns within the German federal government about potential impacts on journalistic independence.
MFE already holds a significant 30.63% stake in ProSiebenSat.1 and aims to further solidify its position. The increased offer has been welcomed by ProSiebenSat.1's CEO, Bert Habets, who has promised a careful examination of the proposal. The stockmarket reacted positively, with ProSiebenSat.1 shares rising significantly.
Despite the financial appeal of MFE’s offer, the German government remains apprehensive. Cultural Minister Wolfram Weimer has invited Pier Silvio Berlusconi to discuss the implications of foreign ownership on the editorial independence of ProSiebenSat.1. The German Journalists’ Association has also voiced concerns over the potential takeover.
In addition to MFE, the Czech investor PPF is also interested in increasing its stake in ProSiebenSat.1. This intensifies the bidding competition, with both parties vying for greater influence over the German media landscape.
The situation highlights the ongoing tension between financial opportunities and the preservation of independent journalism. As the bidding war continues, the outcome remains uncertain, with various stakeholders scrutinizing the potential shifts in media ownership and influence.
