ProSiebenSat.1 Assesses Acquisitions As It Outlines Renewed Entertainment Focus
deadline.comGerman media group ProSiebenSat.1 is to double down on entertainment investments and is eyeing acquisitions, as it puts streaming service Joyn at the center of its business.
A statement released this morning outlined ProSieben’s strategic focus going forwards to address “tech challenges of the market environment and the changing media landscape,” with acquisitions playing a core part in the plan.
ProSieben’s Entertainment division operates a number of terrestrial networks, which play shows such as The Masked Singer Germany and Next Top Model, and is now the sole owner of streaming service Joyn.
It also operates Dating & Video and Commerce & Ventures arms. According to ProSiebenSat.1 Media CEO Bert Habets, the network has “everything it takes to reach millions every day,” and noted: “In the future our investment focus will be on our entertainment business.” The company is regularly “reviews opportunities for acquisitions” and is also planning to to put more cash into its newsroom, local programs and “closer cooperation” with creators so it can reach more platforms.
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