BERLIN/MILAN, Nov 9 (Reuters) – German media group ProSiebenSat.1 (PSMGn.DE) is exploring a possible deal to purchase into Sky’s pay-TV operations in Germany, two sources near the matter stated on Wednesday.
Comcast (CMCSA.O), which acquired Sky Deutschland as a part of a $40 billion buyout of European pay-TV broadcaster Sky in 2018, didn’t instantly reply to request for remark. ProSiebenSat.1 declined to remark.
Comcast is working with advisory agency PJT Companions as it’s weighing a disposal of the German enterprise, the sources stated.
Deliberations are nonetheless ongoing and there’s no certainty any deal will undergo. One of many sources stated there have been restricted synergies between the 2 companies, on condition that ProSiebenSat.1’s TV enterprise was pushed by promoting.
European broadcasters are struggling to search out methods to sort out growing challenges because the continental panorama is growing dominated by U.S. streaming giants.
Italian broadcaster MediaForEurope (MFE) (MFEB.MI) final week cemented its place as ProSiebenSat.1’s largest single shareholder when it raised its potential voting stake to 29.9%.
($1 = 0.9946 euros)
Reporting by Elvira Pollina in Milan, Klaus Lauer in Berlin
enhancing by Federico Maccioni and Keith Weir
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