Berlusconi: ProSiebenSat.1 should focus on core business

ProSiebenSat.1 should consider disposing of its digital and e-commerce businesses to focus on its core TV and entertainment offerings, according to Pier Silvio Berlusconi. Berlusconi, CEO of MediaForEurope (MFE), the German broadcaster’s biggest shareholder, told a press briefing last week that ProSiebenSat.1 faced difficult circumstances because of Germany’s highly challenged advertising market, but that it […]

ProSiebenSat.1 looks to Joyn growth as ad sales hit by economic downturn

Germany’s ProSiebenSat.1 now expects full-year earnings to be at the lower end of the range forecast at the beginning of the year because of a slower than expected economic recovery in Germany, despite a boost in advertising sales from its Joyn streaming service. Advertising revenues declined by about 5% in the third quarter, with overall […]

ProSiebenSat.1 unveils new Joyn management line-up

ProSiebenSat.1 has confirmed that Katharina Frömsdorf will become CEO of streamer Joyn as of November 1, as part of the strategic realignment of the Seven.One Entertainment Group it announced earlier. Frömsdorf will also take on the overarching role of chief platforms and growth officer of Seven.One Entertainment Group. Tassilo Raesig, current CEO of Joyn, and […]

ProSiebenSat.1’s Habets to take helm at Seven.One Entertainment in management reshuffle

ProSiebenSat.1 is reorganising the management of the Seven.One Entertainment Group with ProSiebenSat.1 CEO Bert Habets to also become the CEO of the entertainment arm. The core unit’s three-member management team also includes Henrik Pabst, chief content officer, and Stefan Endriß, chief financial officer. Within the Seven.One Entertainment Group, Habets is responsible for sales, platforms and […]

ProSiebenSat.1 outlines strategy to combat advertising decline

ProSiebenSat.1 is to invest upwards of €1bn ($1.05m) in programming next year that can work on both its linear networks and streamer Joyn, as the company fights the “unprecedented decline” of the local advertising market. Germany’s ad market has slumped around 10% in consecutive years, prompting an overhaul that saw it cut a swathe of jobs […]

ProSiebenSat.1 and MediaForEurope ‘getting closer’

ProSiebenSat.1 has begun collaborating more closely with its largest shareholder, MediaForEurope (MFE), across a range of areas, according to CEO Bert Habets. Habets told the Financial Times newspaper that the German broadcaster had begun cooperating more closely with MFE across advertising, technology and potentially content over the last few weeks. Habets said that ProSiebenSat.1, which […]

ProSiebenSat.1 sees earnings drop by half as ad market takes toll

Germany’s ProSiebenSat.1 saw its earnings plummet in the second quarter as the German market’s advertising weakness took a heavy toll on its top line. Group revenues dropped by almost half to €868 million in Q2, down from €1.043 billion last year, and adjusted EBITDA plummeted from €155 million a year ago to only €79 million. […]

ProSiebenSat.1 to axe 400 jobs in cost-cutting drive

Germany’s ProSiebenSat.1 Group is to cut around 400 posts in a fresh cost-cutting drive, as part of what it styles as the next step in its realignment towards digital and its Joyn streaming platform. The company said that it aimed to create a more efficient structure, a competitive cost base, and processes clearly geared to […]

ProSiebenSat.1 appoints supervisory board

ProSiebenSat.1 Media has elected Katharina Behrends, Dr. Katrin Burkhardt, Thomas Ingelfinger and Prof. Dr. Cai-Nicolas Ziegler to join the group’s supervisory board. A total of four seats were up for election, following the departures of Dr. Marion Helmes, Vice chairwoman of the supervisory board, as well as Lawrence A. Aidem and Dr. Antonella Mei-Pochtler on […]

Czech PPF gains seat on ProSiebenSat.1 board

In a sign of Czech investor PPF’s growing clout as a shareholder in ProSiebenSat.1, ex-CME exec Klara Brachtlova is to take a seat on the German broadcaster’s board, replacing Erik Huggers, whose nine-year term has come to an end. PPF Group holds 11.6% of the share capital of ProSiebenSat.1 Media SE along with financial instruments […]

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