Italy’s Media For Europe (MFE) wants to enroll Germany’s ProSiebenSat1 in its pan-European free-to-air TV network, but the Germans don’t want anything to do with the Italians. This despite the fact that MFE is ProSiebenSat1’s main shareholder. The strategy of MFE (formerly Mediaset) was to focus on pushing ProSiebenSat1 management to sell non-core assets to cut debts, but the plan was rejected.
Now, the new MFE strategy seems to be more direct and the company is aiming for a takeover bid for which it has arranged a euro 3.4 billion (U.S.$3.57 billion) credit facility. “We are ready to step up our international development strategy in order to resist the U.S. giants,” MFE’s chief executive officer Pier Silvio Berlusconi (pictured) told reporters on December 11, 2024.
Reportedly, MFE is also evaluating the purchase of assets currently up for sale in Portugal, the Netherlands and Poland.
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