ProSiebenSat.1 Media

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ProSiebenSat.1 Media SE
TypeSocietas Europaea
FWBPSM
ISINDE000PSM7770
IndustryMass media
Founded2 October 2000
HeadquartersUnterföhring, Germany
Key people
ProductsBroadcasting, Free-to-air and subscription television, television production, cable, dating, commerce, ventures
Revenue€4 billion (2018)[1]
€348 million (2018)[1]
€550 million (2018)[1]
Total assets€6.468 billion (2018)[1]
Total equity€6.468 billion (2018)[1]
Number of employees
6,583 (2018)[1]
Websitewww.prosiebensat1.com

ProSiebenSat.1 Media SE (officially abbreviated as P7S1, formerly ProSiebenSat.1 Media AG) is a German mass media & digital company. It operates in three segments: Entertainment, Dating and Commerce & Ventures. The company is listed on the Frankfurt Stock Exchange.

Segments[edit]

Entertainment[edit]

The Entertainment segment focuses on the production of local and live content, its distribution – linearly and digitally – the expansion of cross-media advertising products and on strengthening the entertainment synergies across all segments of the Group. Seven.One Entertainment Group, Red Arrow Studios and Studio71 are all under the Entertainment segment of ProSiebenSat.1

For the production of own content, the synergies with the production business of Red Arrow Studios and Studio71 are of great importance.

With the Seven.One Entertainment Group, the segment is focusing on the core markets of Germany, Austria and Switzerland. The platform-independent entertainment company combines our station brands with the content, distribution and sales business under one roof, thus covering the entire value chain of the entertainment business. The Channels of Seven. One Entertainment Group

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

Former channels[edit]

sonnenklar.TV was sold to BigXtra in September 2005. The pan-Nordic C More Entertainment pay-TV operation (15 linear TV channels) was sold to TV4 in January 2009. 9Live was a commercial German participation TV channel launched on 1 September 2001 and lasted until 9 August 2011. Sat.1 Comedy was replaced by Sat.1 Emotions in 2012.

Red Arrow Studios[edit]

In 2010, the company combined its various production subsidiaries into the Red Arrow Entertainment Group [de].[2]

Divisions and partial subsidiaries include:

  • Fabrik Entertainment (United States)[3][4]
  • Gravitas Ventures (United States; independent film distributor)[5]
  • Half Yard Productions (United States)[6]
  • Kinetic Content (United States)[7]
  • Left/Right Productions (United States)[8][9]
  • Karga Seven Pictures (United States)[10]
    • Karga Seven Turkey[11]
  • July August Productions (Israel)[12]
  • NERD (United Kingdom)[12]
  • CPL Productions (United Kingdom)[13]
  • Snowman Productions (Denmark)[15]
  • Endor Productions (United Kingdom)[16]
  • Redseven Entertainment (Germany)[17]
  • Ripple Entertainment (United States)[19]
  • Band of Outsiders (United States)[20]
  • Dorsey Pictures (United States)[21]
  • Cove Pictures (United Kingdom/United States; joint venture with Smuggler, Inc.)[22]
  • 10Fold (United States; joint venture with Craig Armstrong and Rick Ringbakk)[23]
  • 44 Blue Productions (United States)[24][25]
  • Mad Rabbit (Canada/United States; joint venture with Kari Skogland)[26]

Dating[edit]

By combining the Parship Group and the US-based The Meet Group, ProSiebenSat.1 has created a leading global player in the dating field forming the new ParshipMeet Group and the Dating segment. Its offerings range from online matchmaking services through dating to social entertainment. Operating in an attractive and fast-growing market environment, the ParshipMeet Group has diversified revenues spanning subscription models to advertising and addresses a broad target group across a large geographical area. The segment is to substantially drive ProSiebenSat.1 diversification and significantly support the Group’s future growth.

Commerce & Ventures[edit]

Commerce & Ventures, bundles ProSiebenSat.1 Group’s growth businesses, which they grow and promote using media power. At the beginning of its value chain in this context is the SevenVentures investment arm, which also includes the ProSiebenSat.1 Accelerator. Here, they support young companies by offering media-for-revenue or media-for-equity deals through the TV reach. In addition to the minority participations that are formed in this way, the segment also includes, for instance, our majority participations of NuCom Group. Here, they build up digital consumer brands from the fields of consumer advise, experiences and beauty & lifestyle into market leaders like Verivox, Jochen Schweizer MyDays, Amoerlie, Flaconi, and many more. https://nucom.group/

History[edit]

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

KirchMedia GmbH & Co. KGaA became the majority shareholder in ProSieben Media AG at the end of 1999. ProSieben Media AG and Sat.1 SatellitenFernsehen GmbH, which was also part of the Kirch group, merged in 2000. The company controlled various TV channels such as SAT.1, ProSieben and kabel eins.

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

The company nearly merged with KirchMedia GmbH in 2002, but the merger failed due to the insolvency of the Kirch group. The company's stock price crashed following the failed merger. In 2003 the company was bought out by P7S1 Holding, which 25-percent owned by Haim Saban's Saban Capital Group and other investors, who got an 88 percent voting share. Saban took over the TV channel group for 500 million euro. The remaining 12 percent belonged to Axel Springer AG.

After the takeover by P7S1 Holding the company was restructured and some TV shows were cancelled.

The company's TV channels, aimed at an age group of 14 to 49 year-old had a market share of more than 30 percent and earned of 1.8 billion euro in 2002, making a profit of 21 million euro. In the same year, the company had over three thousand employees.

When chairman Urs Rohner left the company up to 30 April 2004 "at his own request", Guillaume de Posch, a Belgian, became the new chairman.

In 2005 Axel Springer Verlag offered to buy the company for three billion euro, but this purchase was blocked by the Federal Cartel Office and the Commission on Concentration in the Media,.[27] Springer announced withdrew its offer on 31 January 2006.

Takeover by Permira and KKR[edit]

Haim Saban's shareholding was bought by Permira, a private equity company and Kohlberg Kravis Roberts (KKR) for about three billion euro on 14 December 2006.[28] The shareholding was merged with Permira and KKR's other European media shareholding SBS Broadcasting Group from Luxemburg. SBS was made up of 19 private TV channels, 20 pay TV channels and radio stations.[29]

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

In the summer of 2007, ProSiebenSat.1 took 100 percent ownership in SBS for 3.3 billion euro[30] and became in this way to the second biggest television broadcaster in Europe with yearly revenues of 3.1 billion euro. On 16 July 2007 the concern announced the reduction of 180 jobs (100 of which in Berlin and 80 in Munich) until 2009. On the same day two boulevard shows at Sat.1 were cancelled. Subsequently, further news shows were also to be cancelled or downsized.[31]

On 10 December 2007 the Axel Springer AG announced a complete pull-out from ProSiebenSat.1 and the sale of their holding consisting of 12% of common stock and preferred stock to KKR and Permira for 500 million euro.[32] This transaction was concluded on 16 January 2008. Therefore, the Lavena Holding 5 which was jointly controlled by KKR and Permira got 5% of the common stock as well as 25% of the non-preferred stock.[33]

Upon the takeover of SBS by ProSiebenSat1 in Summer 2007 KKR and Permira offered an option to the other owner, Telegraaf Media Groep (TMG), for 12% of the common stock if they renounce their right of preemption.[34] In June 2008 TMG announced going into the company without their right of preemption.[35] This deal concluded in August of the same year.[36]

At the end of 2008,[37] Guillaume de Posch left the company at his own request. On 1 March 2009, Thomas Ebeling became the manager of the concern. He left the company in February 2018 and will be replaced by Max Conze on 1 June 2018. In the meantime Conrad Albert is taking over the management.[38]

In October 2009, the TV channel group had debts totaling more than 3.4 billion euro and they only paid the taxes for the loan.[39] The group saved especially on program expenditures.[40]

On 12 January 2011, Permira and KKR announced the sale of 8 million non-voting shares. That made 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.

On 20 April 2011 ProSiebenSat.1 wanted to sell their TV channels in Belgium and the Netherlands for 1.225 billion euro to an international media group led by the Finnish concern Sanoma. The sale concluded on 29 July 2011.[41]

On 14 December 2012, the ProSiebenSat.1 Media AG announced the sale of the whole portfolio in Scandinavia to the American Discovery Communications Inc.. Not included in the deal were the production companies, which are grouped as the Red Arrow Entertainment Group. With the proceeds they wanted to pay off 500 million euro in debt as well as increase the dividend to about 5.60 Euro per share (total of 1.2 billion euro). Besides, the ProSiebenSat.1 Media AG wanted to reorganize their stock plan, so that all shares bought on the stock market could be traded.[42]

In the middle of February 2013, the capital investors Permira and KKR started to sell all preferred shares in Lavena Holding 1, which amounts to 18 percent. The stock packet was sold at the Frankfurt Stock Exchange for close to 485 million euro (24.60 euro per share). This way, all preferred shares or half of the capital stock are now in free float.[43]

On 9 April 2013, the announced sale of the Scandinavian company from December 2012 was closed with a value of 1.325 billion euro.[44]

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 KKR and Permira common stocks. In this way only the entitled votes can be traded at Frankfurt Stock Exchange. KKR and 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.[45][46]

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.[47]

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.[48]

At the end of 2013 ProSiebenSat.1 announced the sale of the rest of its Eastern Europe holdings. 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 Romanian businessman Cristian Burci and accepted by Greek Antenna Group. The takeovers were done in the first quarter of 2014. ProSiebenSat.1 acquired Gretzer Partners on Jan 2014 to expand global media footprint.[49]

On 17 January 2014, KKR and Permira sold their last interest so they aren't stockholders anymore.[44]

The entrance of Mediaset[edit]

In May 2019, the Italian Mediaset (Mediaset Spa) invests 330 million euros to take over 9.6% of ProSiebenSat.1 without having a role in the management. In November 2019 Mediaset rises to 15.1% of the German broadcaster. The transaction took place through the subsidiary Mediaset España, which acquired a 5.5% stake in the capital, which is added to the shares already in the group's portfolio. On 23 March 2020 Mediaset España purchased a further 4.28% of the share capital equal to 4.35% of the voting rights, bringing Mediaset's stake to 20.1% and showing the ambition to want to participate in the governance of the issuer thanks also to the 10% held by the Czech magnate Daniel Křetínský, considered by analysts to be close to Pier Silvio Berlusconi in this match,[clarification needed] in order to form a European pole of generalist TV. A few days later, on 28 March, the CEO of the company, Max Conze, always cold to a possible alliance with Mediaset, resigned surprisingly at the end of a very heated board of directors. In his place Rainer Beaujean takes over with the task of guiding the group to a return to its origins, thus aiming at generalist TVs and in fact disavowing the diversification in ecommerce launched in recent years by Conze.

Stock market[edit]

As of 19 March 2018, ProSiebenSat1 Media SE will no longer be represented in the DAX. It will be will replaced by the Bayer spin-off Covestro. Therefore, the media company will be listed in the MDAX afterwards.[50]

References[edit]

  1. ^ a b c d e f "ProSiebenSat.1 verzeichnet 2018 weiteres Rekordjahr". ProSiebenSat.1 Media.
  2. ^ Uwe Mantel (9 October 2010). P7S1 bündelt Produktions-Aktivitäten bei Red Arrow (in German). DWDL.de. Accessed January 2018.
  3. ^ "Red Arrow Entertainment Group launches new partnership with Fuse Entertainment". Red Arrow Studios. Retrieved 29 January 2019.
  4. ^ Meza, Ed (10 December 2012). "Fuse transforms into Fabrik". Variety. Retrieved 29 January 2019.
  5. ^ Clarke, Stewart (8 November 2017). "Germany's Red Arrow Buys Gravitas Ventures, Moves Into Film". Variety. Retrieved 29 January 2019.
  6. ^ "ProSieben's Red Arrow Acquires Majority Stake in 'Say Yes to the Dress' Producer". The Hollywood Reporter. 27 February 2014. Retrieved 29 January 2019.
  7. ^ Andreeva, Nellie (2 September 2010). "ProSieben Division Acquires 51% Of Chris Coelen's Production Co. Kinetic Content". Deadline. Retrieved 29 January 2019.
  8. ^ Tartaglione, Nancy (6 August 2012). "Red Arrow Acquires Majority Stake In 'Mob Wives' Producer Left/Right". Deadline. Retrieved 29 January 2019.
  9. ^ Red Arrow nabs Left/Right
  10. ^ Ed Meza (10 November 2015). "Red Arrow Acquires Majority Stake in Karga Seven Pictures". Variety. Retrieved 23 May 2020.
  11. ^ Mark Anthony Gubagaras (19 January 2017). "Red Arrow's Karga Seven opens Turkish production unit". S&P Global. Retrieved 23 May 2020.
  12. ^ a b Scott Roxborough (10 May 2012). "Red Arrow Acquires Majority Stakes in British & Israeli Indie Producers". The Hollywood Reporter. Retrieved 23 May 2020.
  13. ^ Scott Roxborough (1 March 2012). "Red Arrow Entertainment Group Buys CPL Productions". The Hollywood Reporter. Retrieved 23 May 2020.
  14. ^ "About".
  15. ^ "Snowman Productions – Red Arrow Studios". redarrowstudios.com.
  16. ^ "Endor Productions – Red Arrow Studios". redarrowstudios.com.
  17. ^ a b "Redseven Entertainment – Red Arrow Studios". redarrowstudios.com.
  18. ^ "RedSeven Brand & Digital Studio | Intro". www.redseven-brand-digital.de.
  19. ^ Leo Barraclough (15 October 2015). "Red Arrow Backs Gayle Gilman, Jason Ziemianski's Ripple". The Hollywood Reporter. Retrieved 23 May 2020.
  20. ^ Scott Roxborough (7 July 2016). "Germany's Red Arrow Takes Stake in Digital Media Group Band of Outsiders". The Hollywood Reporter. Retrieved 23 May 2020.
  21. ^ Ed Meza (30 March 2016). "Dorsey Pictures Lines Up New Targets For Red Arrow". The Hollywood Reporter. Retrieved 23 May 2020.
  22. ^ Ed Meza (24 February 2016). "Smuggler, Red Arrow Launch Production Company Cove Pictures". Variety. Retrieved 23 May 2020.
  23. ^ "Red Arrow partners with US production company 10Fold". Red Arrow Studios website. 10 October 2017. Retrieved 23 May 2020.
  24. ^ Daniel Holloway (20 July 2016). "Red Arrow Acquires Wahlburgers Producer 44 Blue Productions". Variety. Retrieved 23 May 2020.
  25. ^ Daniel Holloway (20 July 2016). Red Arrow Acquires ‘Wahlburgers’ Producer 44 Blue Productions. Variety. Accessed February 2021.
  26. ^ Tartaglione, Nancy (5 April 2016). "Red Arrow Invests In Mad Rabbit; Joint Venture With Director Kari Skogland – MIPTV". Deadline. Retrieved 23 May 2020.
  27. ^ Gärtner, Birgit. "Elefantenhochzeit vorläufig verschoben". heise online.
  28. ^ welt.de Der Verkauf von ProSiebenSat.1 – Ich bin dann mal weg
  29. ^ welt.de Der Fusionspartner: SBS-Medien
  30. ^ "ProSiebenSat.1: Übernahme von SBS ist perfekt".
  31. ^ „ProSiebenSat1 baut 180 Stellen ab"[permanent dead link] (dpa-report from 16 July 2007)
  32. ^ GmbH, DWDL.de. "Springer steigt vollständig bei ProSiebenSat.1 aus - DWDL.de".
  33. ^ "Verkauf der ProSiebenSat.1-Anteile von Axel Springer an KKR". www.wowowo.de. Archived from the original on 7 November 2014.
  34. ^ DWDL.de Holländer steigen groß bei ProSiebenSat.1 ein/
  35. ^ DWDL.de Niederländer verzichten auf Einstieg bei ProSiebenSat.1
  36. ^ Digitalfernsehen.de Telegraaf Media Groep neuer Großaktionär bei ProSiebenSat.1
  37. ^ ftd.de Führungschaos bei Pro Sieben Sat 1 at the Wayback Machine (archive index)
  38. ^ "Max Conze neuer Vorstandsvorsitzender der ProSiebenSat.1 Media SE". ProSiebenSat1 Media. Retrieved 1 March 2018.
  39. ^ ProSiebenSat.1 will neue Geschäftsfelder erobern, 28. Oktober 2009 , unter heise.de.
  40. ^ Werbeflaute belastet Springer und Pro Sieben, 6. August 2009, unter handelsblatt.com.
  41. ^ GmbH, DWDL.de. "Milliarden-Deal: ProSiebenSat.1 verkauft Aktivitäten - DWDL.de".
  42. ^ "Pressemitteilung der P7S1 Group zum Verkauf des Nordeuropa Geschäfts". Archived from the original on 6 November 2014.
  43. ^ ProSiebenSat.1: KKR und Permira machen Kasse Archived 17 February 2013 at the Wayback Machine. Retrieved on 12 March 2013
  44. ^ a b ProSiebenSat.1: Verkauf der TV- und Radio-Aktivitäten in Nordeuropa vollzogen Archived 6 November 2014 at the Wayback Machine. Retrieved on 9 April 2013
  45. ^ Auf den Weg in den DAX abgerufen am 2. August 2013
  46. ^ KEK-Online zur Beteiligungsveränderung. Retrieved at 3 August 2013
  47. ^ manager-magazin "ProSiebenSat.1 geht komplett an die Börse" Archived 8 November 2014 at the Wayback Machine. Retrieved at 17 August 2013
  48. ^ "Aktienverkauf von Lavena und TMG". Archived from the original on 11 September 2013.
  49. ^ GmbH, DWDL.de. "ProSiebenSat.1 verkauft sein Osteuropa-Geschäft - DWDL.de".
  50. ^ "Covestro kommt statt ProSiebenSat.1 Media in den DAX". finanznachrichten.de. 6 March 2018. Retrieved 6 March 2018.

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