ProSiebenSat.1 sells channels in Eastern Europe
Jörn Krieger | 24-12-2013
German media group ProSiebenSat.1 has sold its TV and radio channels in Eastern Europe for an undisclosed amount.
In Romania, the company has sold TV channel Kiss TV as well as radio stations Kiss FM, Magic FM, One FM and Rock FM to Greek Antenna Group, South-Eastern Europe's leading media group.TV channel Prima TV has been acquired by Romanian entrepreneur Cristian Burci. Hungarian TV channels TV2, FEM 3, PRO4 and Super TV2 were taken over by the current management team as part of a management buy-out.
The contracts for the transactions have already been signed. ProSiebenSat.1 expects the closing of the deals to take place in Q1 2014.
After the sale of its activities in Northern Europe to US company Discovery Communications in December 2012 ProSiebenSat.1 announced to focus on the expansion of its business in German-speaking Europe in which the group sees the largest long-term synergy and growth prospects.