No quick sale of ProSiebenSat.1
Financial investors Permira and KKR are not planning a quick sale of their German TV group ProSiebenSat.1. “An exit at this point in time would make no sense,” Götz Mäuser, head of the broadcaster’s supervisory board, told German newspaper Süddeutsche Zeitung.
But Mäuser added that it was also clear that at some stage the company would be sold.
Splitting the broadcaster into several parts and selling them individually is “out of the question”, the Permira manager said. “We have created a pan-European television group and will continue to hold onto this concept. The idea is still right, so we won’t be spinning off and selling any part of the core business.”
Mäuser does not consider the company’s debt of around €3.5 billion to be a problem. “At some point this economic crisis will end. Then ProSiebenSat.1 will exploit its earning capacity and again make enough profit to pay off the debt.”