ProSieben looking for investors in TV production, e-commerce units

Reuters News
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Posted: Aug 28, 2017 3:40 PM

FRANKFURT (Reuters) - ProSiebenSat.1 Media SE said it would look for possible external investors to back its content production and digital commerce businesses, potentially via a separate stock market listing.

"The company will enter discussions with interested third parties regarding a potential co-investment in or business combinations with its content production and digital commerce businesses through their respective holding entities," the broadcaster said in a statement late on Monday.

"The review also includes the possibility for potential future public listings."

It said it was looking into merging its TV advertising business in German-language markets with its Digital Entertainment division, whose activities include video-on-demand and online advertising, to cut costs.

More details would be disclosed on Nov. 9, it added.

Also on Monday, it warned that TV advertising revenues in German-language markets would decline in the third quarter but it upheld its full-year profit guidance thanks to a better performance in other divisions.

(Reporting by Ludwig Burger; Editing by Alison Williams)