ProSiebenSat.1 chief financial officer Ralf Gierig has finally rejected a takeover of Sky Germany.
“We focus on linear free TV and our digital business. Sky is in the pay TV business, which is historically difficult in Germany,” the manager told Reuters on Tuesday.
Sky acquisition at ProSiebenSat.1 officially no problem
Sky parent company Comcast has been looking for people interested in taking over Sky Germany for several days and weeks. The indications of this are now reinforced by the statements of Gierig. Because, according to reports, the American company has been actively sending presentations of its “sales mass” to candidates it deems suitable. ProSiebenSat.1 would have belonged to this. In principle, ProSiebenSat.1 simply could not have commented on rumors that were completely unfounded.
Sky’s Unterföhring neighbours, on the other hand, are said to be themselves about to be taken over by MFE (MediaForEurope). The company, which belongs to the Berlusconi group, has recently gradually increased its stake in ProSiebenSat.1. According to Gierig, he is open to talks with MFE. Should this matter be taken seriously in the foreseeable future, the subject of Sky Germany could perhaps come up again.
Maybe I just missed the coal?
Shrinking advertising revenue, meanwhile, weighs heavily on television company ProSiebenSat.1. As the company announced in Unterfoehring on Tuesday, sales in the third quarter fell by 13 percent to 921 million euros, operating profit adjusted for special effects (Ebitda) fell by 27 percent to 118 million euros. Gierig told the dpa: “The market environment continued to deteriorate over the course of the year due to inflation, the energy price crisis and consumer restraint.” Verivox, a long-time driving force, performed significantly worse than in the same quarter last year. In the third quarter, the group had to write off 312 million euros of the goodwill of its comparison portals and webshops.
Advertising slump depresses ProSiebenSat.1 sales and profits
ProSiebenSat.1 lowered its annual forecast again at the end of October. For the traditionally strong fourth quarter, the group had announced a 17 percent decline in advertising revenue. Annual sales are expected to decrease from EUR 4.50 billion to EUR 4.15 billion, adjusted operating profit from EUR 840 million to EUR 650 million. This includes the costs for the full takeover of streaming platform Joyn and for savings programs. Gierig said ProSiebenSat.1 is well positioned to benefit from an economic recovery in the advertising market.
This DIGITAL TELEVISION article from the previous day tells you who else is in the pot of those interested in taking over Sky Germany and why the discussion about it could potentially be dismissed as a utopia based on personal details.
With material from the dpa
- Sky building reception: © Sky Germany
- proSiebenSat1 campus: ProSiebenSat.1