ProSiebenSat.1 Media

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ProSiebenSat.1 Media AG
Type Aktiengesellschaft
Traded as FWBPSM
Industry Mass media
Founded October 2, 2000
Headquarters Unterföhring, Germany
Key people Thomas Ebeling (CEO and chairman of the executive board), Johannes Huth (Chairman of the supervisory board)
Products Broadcasting, Free-to-air and subscription television, television production, radio broadcasting, cable, web content, magazine publication
Revenue 3.000 billion (2010)[1]
Operating income €669.5 million (2010)[1]
Profit €312.7 million (2010)[1]
Total assets €6.316 billion (end 2010)[1]
Total equity €1.026 billion (end 2010)[1]
Employees 4,750 (FTE, end 2010)[1]
Website www.prosiebensat1.com

ProSiebenSat.1 Media AG (officially abbreviated as P7S1) is a German mass media company. It operates commercial television, premium pay channels, radio stations and related print businesses. It was formed on October 2, 2000 by merger of German TV broadcasters ProSieben Media AG (founded on New Year's Day of 1989) and Sat.1 SatellitenFernsehen GmbH (also founded on New Year's Day of 1984, as PKS (Programmgesellschaft für Kabel- und Satellitenrundfunk)). Through takeover of SBS Broadcasting Group on June 27, 2007 it now has operations in 13 European countries.

History[edit]

Whole view of company building
Detail view
Entrance
Signboard of ProSiebenSat.1 TV Germany
ProSiebenSat.1 TV Germany, Detail view

After the KirchMedia GmbH & Co. KGaA became majority shareholder of the ProSieben Media AG at the end of the year 1999, the ProSieben Media AG and the Sat.1 GmbH, which belongs also to the Kirch group published their merger plans at 28 June 2000. In this way the biggest TV channel group (SAT.1, ProSieben, kabel eins and N24) will be created. Since the 2nd October 2000 the ProSieben Media AG took the interests of the Sat.1 GmbH by the KirchMedia GmbH & Co. KgaA, since the 13th October of the same year the stocks of the ProSieben Media AG are renamed to ProSiebenSat.1 Media AG at the Frankfurt Stock Exchange. Urs Rohner, the Chairman of ProSieben became Chairman of the ProSiebenSat1 Media AG.[2] As part of the integration of Sat.1 the ProSieben Television GmbH was also found.

Ruin of the Kirch group and takeover by Haim Saban[edit]

In 2002 there was nearly a merger with the KirchMedia GmbH, but it failed at the end of insolvency of Kirch group. After that, the stock of ProSiebenSat.1 crashed. In 2003 the AG got P7S1 Holding as new major shareholder, which is a 25-percent subsidiary of the Saban Capital Group by Haim Saban and more investors who got 88 percent of the votes. Saban took the TV channel group over for 500 million Euros. The 12 percent of the rest belonged to Axel Springer AG. Free shareholders got only non-voting preference shares.

After the takeover by P7S1 Holding there were restructuring measures and a reorganisation of the TV channels. Also some TV shows were cancelled.

The AG reached with their TV channels at the age group of 14 to 49 years a Market share of more than 30 percent and an earning of 1.8 million Euros in 2002 as well as a profit of 21 million Euros and over three thousand employees.

After the previous chairman Urs Rohner left the company up to the 30th April 2004 "at his own request", the Belgian Guillaume de Posch followed him.

In 2005 the Axel Springer Verlag published the purchase price of three billion Euros to buy the ProSiebenSat.1 Media AG complete, but this purchase was withholded by the Federal Cartel Office and the Commission on Concentration in the Media,[3] so that Springer announced finally to refuse the takeover at 31 January 2006.

The Italian Media group Mediaset of the former Italian Prime Minister Silvio Berlusconi showed it's interests of the ProSiebenSat.1 Media AG at 6 November 2006.

After that, the Mediaset wanted a 50.5 percent participation of the German Media Partners (GMP) by Haim Saban.

Takeover by Permira and KKR[edit]

The participation of GMP by Haim Saban was taken over by the Private equity company Permira and Kohlberg Kravis Roberts & Co for about three billion Euro at 14 December 2006.[4] Together with the SBS Broadcasting Group from Luxemburg, which contains 19 private TV channels, 20 Pay-TV channels and radio stations, a European media group should be formed.[5]

50.5 percent of the stock have got 88 percent of the voting rights. De rest - 49.5 percent - of the stock are listed on the stock exchange and in free float.

In Summer of 2007 ProSiebenSat.1 took 100 percent of SBS for 3.3 billion Euro[6] and became in this way to the second biggest television broadcaster in Europe with a yearly earning of 3.1 billion Euro. At 16 July 2007 the concern announced to reduce 180 jobs until 2009. This contains 100 jobs in Berlin and 80 in Munich. Since this day two boulevard-shows at Sat.1 were cancelled. In future further news should also be cancelled or reduced.[7]

At 10 December 2007 the Axel Springer AG announced to revoke from ProSiebenSat.1 completely and to sell their holding by twelve percent of common stock and preferred stock to KKR and Permira for 500 million Euro.[8] This retreat was taken at 16 January 2008. Therefore the Lavena Holding 5 which was spread KKR and Permira got 5 of 100 percent of the common stock as well as 25 percent of the non preferred stock.[9]

At the takeover by SBS from ProSiebenSat1 in Summer 2007 KKR and Permira offered the other owner Telegraaf Media Groep (TMG) an option for twelve percent of the common stock, if they go without their right of preemption.[10] In June 2008 TMG announced to go into the company without their right of preemtion.[11] They got on in August of the same year.[12]

At the End of 2008[13] Guillaume de Posch leaved the Company also at his own request the company. Since 1 March 2009 Thomas Ebeling is the manager of the concern.

In October 2009 the TV channel group had debts totalling more than 3.4 billion Euro and they only paid the taxes for the loan.[14] The group saved especially at program expenditures.[15]

At 12 January 2011 Permira and KKR announced the sell of 8 million non-voting shares. That makes up 3.7 percent of the capital stock. After finishing the bookbuilding process (according to their own disclosures) they are going to have 53 percent of the capital stock.

At 20 April 2011 ProSiebenSat.1 wanted to sell their TV channels in Belgium and the Netherlands for 1.225 billion Euro at an international pool of media by the Finnish concern Sanoma. The sell was done at 29 July 2011.[16]

At 14 December 2012 the ProSiebenSat.1 Media AG predicted to sell the whole portfolio in Scandinavia to the American Discovery Communications Inc.. Not included are the production companies, which are sum up in the Red Arrow Entertainment Group. With the proceeds they wanted to pay off 500 million Euro as well as increase the dividend at acout 5.60 Euro per stock or 1.2 billion Euro. Besides the ProSiebenSat.1 Media AG wanted to reorganize the stocks, so that all buyed stocks at the stock market could be tradable.[17]

In the middle of February 2013 the capital investors Permira and KKR startet to sell all preferred stocks by Lavena Holding 1 which contains 18 percent. The stock packet was sold at the Frankfurt Stock Exchange for round about 485 million Euro and 24.60 Euro per piece. In This way all preferred stocks or rather half of the capital stock are now in free float.[18]

At 9 April 2013 the announced sell by the Scandinavia company from December 2012 was done by value of 1.325 billion Euro.[19]

Exit of KKR and Permira[edit]

At the Annual general meeting at 23 July 2013 the Shareholder of the ProSiebenSat.1 Media AG decided to combine the preferred stocks and the from KKR and Permira common stocks. In this way only the entitled votes can be traded at Frankfurt Stock Exchange. KKR und Permira got only a minority by 44% of the common stocks, because the authorized capital contains 50% common stocks and 50% preferred stocks. The capital investors also decided with the Telegraaf Media Groep to sell their interest in tranches at the stock exchange.[20][21]

At 19 August 2013 the ProSiebenSat.1 Media AG finished its stock exchange launch, so that future common stocks will be listed in MDAX and the exchange council doubles.[22]

At 4 and 6 September Lavenda Holding and Telegraaf Media Groep sold 17 percent of their stocks to institutional investors. Therefore the stocks packet of KKR and Permira decreases to 33 percent and the Telegraaf Media Groep sold their stocks package and isn't stockholder anymore.[23]

In the end of 2013 ProSiebenSat.1 announced the sell of the rest of the Easteurope trades. The Hungarian TV channels will be sold in a Management-Buy-Out. In Romania all TV and radio channels, except for Prima TV, which should be acquired by the rumanian businessman Cristian Burci and accepted by Greek Antenna Group. The takeovers were done in the first quarter oft 2014.[24]

At 17 January 2014 KKR and Permira sold their last interests so they aren't stockholder anymore.[19]

Divisions[edit]

German language Free-to-air, Pay-TV- and Transaction-TV Channels[edit]

Germany Austria Switzerland US, Canada, France and Russia
Free-to-air
Pay-TV

Former Channels[edit]

sonnenklar TV was sold off to BigXtra in September 2005. The pan-Nordic C More Entertainment pay-TV operation (15 linear TV channels) was sold off to TV4 in January, 2009. 9Live was a commercial German participation TV channel launched on 1 September 2001 and lasted until 9 August 2011.

Games[edit]

It owns the rights to distribute Alaplaya, GunZ 2[25] and PlanetSide 2[26]

References[edit]

  1. ^ a b c d e f "Annual Report 2010". ProSiebenSat.1 Media. Retrieved 1 April 2011. 
  2. ^ [1] stern.de. Retrieved 22 November 2012
  3. ^ http://www.heise.de/tp/r4/artikel/21/21576/1.html
  4. ^ welt.de Der Verkauf von ProSiebenSat.1 – Ich bin dann mal weg
  5. ^ welt.de Der Fusionspartner: SBS-Medien
  6. ^ ProSiebenSat.1: Übernahme von SBS ist perfekt
  7. ^ „ProSiebenSat1 baut 180 Stellen ab“ (dpa-report from 16 July 2007)
  8. ^ DWDL: Springer steigt vollständig bei ProSiebenSat.1 aus
  9. ^ Verkauf der ProSiebenSat.1-Anteile von Axel Springer an KKR und Permira vollzogen
  10. ^ DWDL.de Holländer steigen groß bei ProSiebenSat.1 ein/
  11. ^ DWDL.de Niederländer verzichten auf Einstieg bei ProSiebenSat.1
  12. ^ Digitalfernsehen.de Telegraaf Media Groep neuer Großaktionär bei ProSiebenSat.1
  13. ^ ftd.de Archive copy at the Wayback Machine
  14. ^ ProSiebenSat.1 will neue Geschäftsfelder erobern, 28. Oktober 2009 , unter heise.de.
  15. ^ Werbeflaute belastet Springer und Pro Sieben, 6. August 2009, unter handelsblatt.com.
  16. ^ DWDL: Rückzug aus den Niederlanden und Belgien – ProSiebenSat.1 verkauft Aktivitäten
  17. ^ Pressemitteilung der P7S1 Group zum Verkauf des Nordeuropa Geschäfts
  18. ^ ProSiebenSat.1: KKR und Permira machen Kasse. Retrieved at 12 March 2013
  19. ^ a b ProSiebenSat.1: Verkauf der TV- und Radio-Aktivitäten in Nordeuropa vollzogen. Retrieved at 9 April 2013
  20. ^ Auf den Weg in den DAX abgerufen am 2. August 2013
  21. ^ KEK-Online zur Beteiligungsveränderung. Retrieved at 3 August 2013
  22. ^ manager-magazin "ProSiebenSat.1 geht komplett an die Börse. Retrieved at 17 August 2013
  23. ^ Aktienverkauf von Lavena und TMG
  24. ^ Verkauf des Osteuropa-Geschäfts
  25. ^ EU Publisher Confirmed!: ProSiebenSat.1, which owns Alaplaya, released info about their partnership with MAIET Games: "The publisher of video games ProSiebenSat.1 Group will take care of the European edition of the free action game in the third person. GunZ 2: The Second Duel should be released on PC in the last quarter of 2013. GunZ 2: The Second Duel: a sequel that is a potential success partnering with South Korean developer MAIET Entertainment , ProSiebenSat.1 Games adds another action game success of its rich catalog. " MAIET Entertainment has demonstrated the ability to create fantastic action games free of charge and we are happy to soon add another potential success to our prestigious portfolio, "said Tung Nguyen-Khac, CEO of ProSiebenSat.1 Games. "Thanks to the wide range of ProSiebenSat.1 Group we are able to reach fans of action games across Europe, "said Youngho Kim, vice president of MAIET Entertainment and product director for GunZ 2: The Second Duel. "With its strong network and experience of European publisher, ProSiebenSat.1 Games has all it takes to help us make GunZ 2: The Second Duel a great success. " The first installment of the series GunZ was created in 2004 and became a cornerstone of the action game in the third person thanks to its innovative game mechanics. GunZ 2: The Second Duel will be distributed through the European network of the ProSiebenSat.1 Group. In France and Turkey, ProSiebenSat.1 Games is also working with important partners such as Télévision Française 1 (TF1) and Dogan Media Group (KanalD)."
  26. ^ Planetside2.eu Terms: "ProSiebenSat.1 Games GmbH (hereinafter referred to as "P7S1 Games" or "We") offers consumers the online game "Planetside 2" as well as other content and services"

External links[edit]