Private equity company KKR has taken a 5.2 per cent stake in ProSiebenSat.1 Media.
KKR originally bought ProSieben with Permira in 2006 in a deal worth over €5 billion, before selling its stake in 2014.
It said it had decided to reinvest in the company based on its belief that markets are currently undervaluing the company.
Italy’s Mediaset already owns 24.2 per cent in ProSieben, while Czech Media Invest (CMI) vehicle holds a 10 per cent stake.
“We view it as a positive signal that, in addition to Mediaset and CMI, other market participants see ProSieben as an attractive investment – even at a time of crisis,” ProSieben said in a statement.