The two boards of German broadcaster ProSiebenSat.1 say they welcome a bid from Czech investment firm PPF, but have called it “inadequate from a financial point of view”.
The executive board and supervisory board have advised the broadcaster’s shareholders not to accept the offer. PPF Group tabled at a 21 per cent premium over the recent bid made by Italy’s MediaForEurope (MFE).
Both boards concluded that “the offer price does not adequately reflect the earnings potential and long-term value of ProSiebenSat.1”.
This comes despite the fact German regulators have approved PPF’s bid.
PPF and MediaForEurope have been competing to gain control of ProSieben throughout 2025. Last month, PPF said it would consider partnering with MFE on a bid for the German company, but nothing appears to have come of that idea.
MFE wants to acquire the broadcaster as it plans to build a European free-to-air TV hub to take on the growth of the global streaming services. That might have hit a roadblock following yesterday’s news that Netflix has agreed a deal with French broadcaster TF1 to carry its linear and on-demand content.
