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MediaForEurope (MFE) has notified Austria’s Federal Competition Authority about the "acquisition of de facto sole control of ProSiebenSat1 Media DE Deutschland," the competition watchdog confirmed.

In the third quarter of 2022, ProSiebenSat.1 Group generated group revenues of €921 million in what the company described as “a very challenging market environment.”

The german media group is bundling its eight subsidiaries in Germany, the UK, Denmark, Israel, and its global program sales arm under the umbrella of the newly established Seven.One Studios.

The German commercial broadcast group shares a 50:50 partnership on the AVOD, which was established with Discovery in 2017, and has operated under the name Joyn since 2019.

ProSiebenSat.1 Group has sold the US part of Red Arrow Studios’ production business to Hollywood veteran Peter Chernin’s The North Road Company, in a transaction based on an enterprise value of US$310 million.