ProSiebenSat Channels Not for Sale

Joerg Rockenhaeuser who heads up Permira's German operations told a German newspaper Sueddeutsche Zeitung that Permira and fellow private equity firm co-owner KKR, did not intend to put ProSiebenSat.1 up for sale.

There has been speculation that some TV channels would be sold after the boss of rival German-TV company Premiere said he wanted to buy ProSiebenSat's flagship channel Sat 1 in April.

Selling Sat 1, however, is not on the agenda. “From the shareholder point of view, that wouldn't make any sense,” said Rockenhaeuser.

ProSiebenSat.1 bought Luxembourg-based SBS in June 2007 for EUR 3.3bn. Together KKR and Permira own 88% of ProSiebenSat.1. They have owned it since late 2006 when they bought it from Haim Saban, after an agreed sale of ProSiebenSat.1 to rival media group Axel Springer was rejected by the competition authorities.

The Munich-based company is behind a collection of TV channels that air in Germany, Scandinavia and Eastern Europe.

Source: Thomson Merger News