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ProSieben’s international sales could raise €2.5 billion
The sale of its international assets could net ProSiebenSat.1 up to €2.5 billion. Following the announcement late last year that it is looking to offload some of its international assets, analysts have been calculating the respective values of these and the impact these sales will have on the German-based broadcast group.
The company operates free and pay TV channels in the Benelux and Nordic regions under the SBS banner. Morgan Stanley estimates the Benelux operation will generate about €123 million EBITDA profit this year and has a value of between €980 million and €1.23 billion. The Nordic operation will, meanwhile, deliver EBITDA profit of about €118 million and is valued at between €1 billion and €1.3 billion by the investment bank.
However, ProSieben is understood to be reluctant to offload both assets, making the sale of one a more likely scenario. ProSieben sparked the interest in its international businesses last December when CEO Thomas Ebeling told German press the company was considering selling its international assets if they could get the right amount of cash for them. It subsequently launched a formal strategic review of these assets and there have reportedly been expressions of interest from Telegraaf media Group and John de Mol among others.
The company operates free and pay TV channels in the Benelux and Nordic regions under the SBS banner. Morgan Stanley estimates the Benelux operation will generate about €123 million EBITDA profit this year and has a value of between €980 million and €1.23 billion. The Nordic operation will, meanwhile, deliver EBITDA profit of about €118 million and is valued at between €1 billion and €1.3 billion by the investment bank.
However, ProSieben is understood to be reluctant to offload both assets, making the sale of one a more likely scenario. ProSieben sparked the interest in its international businesses last December when CEO Thomas Ebeling told German press the company was considering selling its international assets if they could get the right amount of cash for them. It subsequently launched a formal strategic review of these assets and there have reportedly been expressions of interest from Telegraaf media Group and John de Mol among others.