Berlusconi Family’s MediaForEurope TV Group Launches Takeover Bid for Germany’s ProSieben

variety.com:

Nick Vivarelli International Correspondent MFE-MediaForEurope, the TV group controlled by Italy’s Berlusconi family, has launched a takeover bid for German broadcaster ProSiebensat.1 as part of its stated ambition to build a pan-European broadcaster that can compete with U.S.

streaming giants such as Netflix. MFE, which is headed by Pier Silvio Berlusconi — who is the son of the late former Italian Prime Minister and TV tycoon Silvio Berlusconi — and runs TV operations in Italy and Spain, has long been building a nearly 30% stake in ProSieben and plotting a ProSiebensat.1 buyout as part of its plan to create a pan-European advertising-funded network.

MFE was formed in 2021 when Berlusconi’s Mediaset moved its legal headquarters to the Netherlands, changed its shareholding structure, and rebranded as MediaForEurope.

Prosieben, which is Europe’s second-largest TV group in terms of TV home penetration, operates free-to-air and pay-TV channels in Germany, Austria and Switzerland. “It is time to switch gear,” Pier Silvio Berlusconi said in a statement on Wednesday. “We believe that ProSiebenSat.1 needs a strong shareholder that can provide expertise and experience in the industry, making an active contribution to its growth journey,” he added.