Jörn Krieger ©RapidTVNews | 29-07-2011

German media group ProSiebenSat.1 has finalised the sale of its TV and print business in the Netherlands. The Dutch cartel office has approved the deal on 22 July 2011, the company announced in Munich.

On 20 April 2011 ProSiebenSat.1 signed contracts to sell its business activities in Belgium and the Netherlands to a consotrium formed by media companies Sanoma Corporation and Talpa Holding. The transactions have a total value of €1.2 billion.

The sale of the Belgian assets was completed on 8 June 2011. The Munich-based company will mainly use the incoming cash to reduce its high debt.