Italy’s biggest commercial broadcaster Mediaset is seeking approval from Germany’s competition authority for its recently increased stake in German rival ProsiebenSat.1, reported Reuters.
Controlled by the family of former Italian Prime Minister Silvio Berlusconi, Mediaset recently raised its holding in ProSiebenSat.1 to just over 20%, as it presses ahead with plans to create a pan-European TV champion to tackle stiff global competition.
Any antitrust approval could give the Italian broadcaster leeway to increase its stake further up to 25% and clear the way for Mediaset to vote at a ProSiebenSat.1 shareholder meeting scheduled in June.
“We are acting in line with German rules and we are informing all the involved authorities,” a spokesman for the Italian broadcaster said.
According to Reuters, ProSiebenSat.1 has shown little enthusiasm for a closer tie-up with Mediaset. But things could change following the departure of former CEO Max Conze and the announcement ProSiebenSat.1 will shift its focus to its core entertainment business.
Full Content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile’s Acquisition of Ka’ena Corporation Receives FCC Approval
Apr 26, 2024 by
CPI
UK Regulator Announces Two New Senior Executive Appointments
Apr 26, 2024 by
CPI
Paramount Global and Skydance Media Near Merger Deal, Eyeing CEO Change
Apr 26, 2024 by
CPI
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI