Return to search

Modern Times Among Final Bidders for ProSiebenSat.1

Sweden-based broadcaster Modern Times Group is among the three remaining bidders for ProSiebenSat.1‘s assets in Scandinavia, Reuters reported, citing an article in the Swedish trade journal Resume. ProSiebenSat.1 is owned by private equity firms Kohlberg Kravis Roberts & Co. and Permira. According to Reuters, the biggest sticking point on a potential deal is price: ProSiebenSat.1 is reportedly asking for 12 billion Swedish crowns ($1.9 billion) for the assets.

(Reuters) – Sweden-based broadcaster Modern Times Group (MTG) is among the three remaining bidders for ProSiebenSat.1’s assets in Scandinavia, a Swedish trade journal said on Thursday.

Citing sources close to the deal, the Resume weekly reported that the price was the main remaining obstacle to a deal with ProSiebenSat.1 demanding 12 billion Swedish crowns ($1.9 billion) for the assets.

MTG was not immediately available for comment on Thursday, but said in February it was interested in the assets, which include radio and TV channels in the Nordic region.

ProSiebenSat.1, owned by private equity firms KKR [KKR.UL] and Permira [PERM.UL], said earlier this year it had begun a process of selling some of its assets to pay down debt.

($1=6.308 Swedish Crown)
(Editing by Jon Loades-Carter)