MediaForEurope (MFE), the media group controlled by former Italian Prime Minister Silvio Berlusconi’s family, has made its long-expected formal move to acquire full control of German broadcaster ProSiebenSat.1. The company has submitted a takeover offer priced at €1.06 per share—exactly the legal minimum required—valuing the outstanding shares at around €1.1 billion.
MFE, which currently owns a 29% stake (giving it 35% of voting rights due to share structure), confirmed the bid through its Dutch-based subsidiary MFE-MediaForEurope NV. The offer comes amid a prolonged slump in ProSiebenSat.1’s share price and growing strategic interest in consolidating Europe’s fragmented media landscape.
MFE’s stated goal is to build a pan-European media group capable of competing with global streaming platforms. The company has repeatedly called for greater integration across European broadcasters, and sees full control of ProSiebenSat.1 as key to advancing that strategy. It also says it does not plan to delist the German company or enforce structural changes immediately, framing the offer as part of a long-term alignment rather than a hostile takeover.
ProSiebenSat.1’s recent financial challenges—coupled with leadership changes and strategic missteps—have left the group vulnerable. Last year, its advertising business took a hit, and its focus on e-commerce investments has yet to deliver the promised returns.
The success of the takeover hinges on how shareholders respond to what some analysts are calling a lowball offer. With no premium above current trading levels, MFE is betting that its long-term vision and increased influence will be enough to convince investors. The acceptance period is expected to run for several weeks, with regulatory approvals to follow if the offer gains traction.
If successful, the move would mark a significant step in MFE’s plan to reshape the European TV market, putting it in a stronger position to challenge U.S. tech giants and regional competitors alike.
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