-
Tips for becoming a good boxer - November 6, 2020
-
7 expert tips for making your hens night a memorable one - November 6, 2020
-
5 reasons to host your Christmas party on a cruise boat - November 6, 2020
-
What to do when you’re charged with a crime - November 6, 2020
-
Should you get one or multiple dogs? Here’s all you need to know - November 3, 2020
-
A Guide: How to Build Your Very Own Magic Mirror - February 14, 2019
-
Our Top Inspirational Baseball Stars - November 24, 2018
-
Five Tech Tools That Will Help You Turn Your Blog into a Business - November 24, 2018
-
How to Indulge on Vacation without Expanding Your Waist - November 9, 2018
-
5 Strategies for Businesses to Appeal to Today’s Increasingly Mobile-Crazed Customers - November 9, 2018
ProSiebenSat.1 in merger talks with Axel Springer – report – Telecompaper
German media titans ProSiebenSat and Axel Springer could be on the verge of a mega $16 billion merger according to reports.
Advertisement
German media giants ProSiebenSat.
Negotiations are still at an early stage and could still break down, the sources said, adding that a deal would face several issues, including regulatory and antitrust scrutiny. While that deal was motivated by the urge to build a counterweight to Bertelsmann SE, ProSieben and Springer are now seeking to increase their heft as consumers turn to Google Inc.’s YouTube and social media for content.
However, in a statement today, Axel Springer said the company continues to pursue a transformation of the business’ legal standing to a KGaA (Kommanditgesellschaft auf Aktien) partnership limited by shares – a traditional structure for very large, publicly traded, family businesses. Earnings before interest, tax, depreciation and amortisation at its paid models unit – which includes Bild and Die Welt as well as its worldwide press holdings, accounting for about half of the group’s earnings – fell from €250 million to €244 million a year ago.
“This will not be a majority view but we would not write off the chance of a combination”, Whittaker said in a note to clients Tuesday.
The widow of company founder Axel Springer owns 57% of the publisher and her support is necessary for the merger to go ahead. Mathias Doepfner, the Springer CEO and close confidant of Friede, also owns a stake in the company and is among the top five shareholders, according to data compiled by Bloomberg. Last year, Springer acquired news channel N24 from ProSieben. The company’s stock has gained 28 percent this year through Monday, while Axel Springer has lost about 5 percent in the same period.
Advertisement
Sarah Simon, at Berenberg, said the strategic logic for bolting together Axel Springer and ProSieben’s legacy print and TV assets, which both operate in industries undergoing seismic changes, was not clear.