MFE-MediaForEurope, the media conglomerate controlled by Italy’s Berlusconi family, has formally launched a voluntary public takeover offer for Germany’s ProSiebenSat.1 Media SE. The move underscores MFE’s strategic ambition to build a unified European media powerhouse and further integrate operations across the continent.
MFE currently holds nearly 30% of ProSiebenSat.1. With this latest offer, it seeks to secure a majority stake by acquiring additional shares at €5.75 each—just below ProSiebenSat.1’s recent trading value, but strategically priced to encourage shareholder response. The total valuation implied by the offer stands at approximately €1.5 billion.
The offer includes a payment structure of 78% in cash and 22% in newly issued MFE 'A' shares. It is being launched through MFE’s Dutch holding company, MFE-MediaForEurope N.V., and is open until April 23, 2025.
In a key development that strengthens the bid’s viability, MFE has already secured a share purchase agreement with a current ProSiebenSat.1 shareholder. This agreement guarantees that MFE will surpass the critical 30% ownership threshold, triggering enhanced shareholder rights under German law and enabling further market purchases without regulatory hurdles.
MFE's leadership, including CEO Pier Silvio Berlusconi, sees the deal as vital to creating value and positioning European broadcasters to better compete with global streaming and tech giants. Berlusconi described the bid as a “constructive” step, intended to support ProSiebenSat.1’s management and strategy without pushing for full control or delisting.
The offer comes at a time when ProSiebenSat.1 is undergoing internal restructuring, streamlining its focus on entertainment and divesting from non-core digital and e-commerce assets. For MFE, which also owns Mediaset in Italy and Spain, acquiring a larger stake in ProSiebenSat.1 is a key move in its long-term strategy to form a pan-European media group with shared content, advertising technologies, and scale efficiencies.
ProSiebenSat.1’s management board has acknowledged receipt of the offer and is currently reviewing the terms. A formal response will be provided in line with German regulatory procedures.
If successful, this takeover would mark one of the most significant consolidation moves in European broadcasting in recent years, reshaping the media landscape and potentially setting the tone for further cross-border mergers in a rapidly evolving industry.
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