No sell offs planned at ProSiebenSat.1
German television group ProSiebenSat.1 will continue to operate as a unified company. Chairman Thomas Ebeling, who has been at the head of the Munich-based concern for the past 6 months, has ruled out any splitting off of the company’s assets.
“Once and for all – that is a terrain we do not wish to traverse,” Ebeling told German newspaper Frankfurter Allgemeine Zeitung. “I believe that from an industrial logic, you only attain a strong position in the German television market when you have a total market share of at least 20%. We have so many content and advertising sales synergies that I can’t imagine the sell-off of a channel being an attractive proposition.”
Likewise, ProSiebenSat.1 has no plans to part with the European channel family SBS Broadcasting which it acquired in 2007. “You are always obliged to consider a good offer, but we are not planning a sale of SBS,” explained Ebeling.
The costly acquisition is the main reason for the company’s high debts of €3.4 billion, which it wants to reduce through a strict cost-saving plan which Ebeling is convinced will be successful. “We can completely and punctually meet our payment obligations. We are pushing our operative business forward. So long as our core figures are in order – viewer market shares, programmes and advertising sales model – solutions to these issues will be found. That is a Mission Possible.”