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Axel Springer, ProSiebenSAT1 in merger talks: report

7 Jul 2015

German media giant Axel Springer and the television group ProSiebenSAT1 are in talks to merge, a decade after an earlier tie-up was turned down by German competition authorities, Bloomberg News reported on Tuesday.

Axel Springer, ProSiebenSAT1 in merger talks: report

Quoting sources familiar with the matter, the news agency said that discussions were at an early stage and any transaction could face anti-trust hurdles.

Neither group was willing to comment on the information, it added.

ProSiebenSat.1 has a market value of 9.7bn euros ($10.7bn), while Axel Springer is valued at 4.7bn euros.

In 2005, Axel Springer, whose publications include the mass-circulation daily Bild and the conservative broadsheet Die Welt, had wanted buy ProSiebenSAT1 in order to build a counterweight to rival Bertelsmann, which owns the RTL television group as well as the Gruner & Jahr publishing house.

Source: AFP

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