Italian television group Mediaset announced it acquired 9.6 percent of German broadcaster ProSiebenSat.1.
Mediaset, which is owned by the family of former Italian prime minister Silvio Berlusconi, will become the largest shareholder in the German channel, which also has a presence in Austria and Switzerland.
In a statement, Mediaset said that the rapid process of globalisation that is determining the international scenario is such that European media companies like it need to join forces if they are to continue to compete, or even just resist, in terms of our European cultural identity, eventual attacks by the global giants.
Mediaset, which also broadcasts in Spain, said it has had a strong relationship with ProSiebenSat.1 for five years as part of the European Media Alliance (EMA), with the aim “to develop scale economies which are crucial for the future of European TV”.
Via France 24