According to a report by Business Insider, German TV company ProSiebenSat.1 is opening up a collaboration with Silvio Berlusconi’s media empire MFE.
Hence, the Munich-based company is giving Italian media group Media For Europe (MFE) seats on its supervisory board. According to other “Business Insider” reports, the Italians are sending Catarina Bernds to the ProSiebenSat1 supervisory board and it is likely that she will get another position on the supervisory board. MFE is the largest contributor to ProSiebenSat.1. The second largest owner is the Czech holding PPF, which is controlled by Renata Kelnerova. This also demands a seat, but according to Business Insider you won’t get it.
A spokeswoman for ProSiebenSat.1 did not want to comment on supervisory board positions on Saturday. She added that the new members of the oversight board will be discussed when the general meeting is called. The relationship between ProSiebenSat.1 and the MFE has long been considered unrefrigerated. Headed by former Italian Prime Minister Silvio Berlusconi, MFE aims to create a European network of broadcasters. Among other things, former ProSiebenSat.1 CEO Rainer Beaujean was reticent about this. Bojian abruptly resigned from his position last fall.
The new CEO, Bert Habits, who has been in office since November, intends to present the new corporate strategy soon. According to Business Insider, it should turn out that the core of the company lies in entertainment. Broadcast width should be greatly expanded. A spokeswoman for ProSiebenSat.1 confirmed that the company’s new strategy should be published soon. According to its own statements on Tuesday, PPF has increased its stake in ProSiebenSat.1 to 10.1 percent. The holding company said in a statement that it also wanted to be represented on the oversight board and had already contacted the company about the matter. PPF believes that ProSiebenSat1 “must ensure fair representation of all major shareholders on the board.”
According to Business Insider, MFE is complaining about two supervisory board positions. The selection of the MFE Behrends manager is also specific to ProSiebenSat1. She said that if the second seat was filled by the MFE with a more independent representative, his election would also be considered very likely. According to “Business Insider,” investor group PPF will not have a seat on the supervisory board. A total of four positions will be identified on the oversight committee.
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