All3Media all in for indie MME
EmptyCOLOGNE, Germany -- All3Media, the U.K. production company controlled by private equity group Permira, has acquired MME Moviement, Germany's leading indie TV production group.
A majority of MME shareholders on Monday accepted All3Media's bid of €7 ($9.5) a share, or just over €30 million ($41 million), for an additional 42% of the Berlin-based company. All3Media already holds a 39% stake in MME.
Having secured majority control of MME, All3Media plans to merge the German company with its U.K. operations, forming one of Europe's leading TV production houses, with a combined revenue of about $540 million.
Permira, together with Kohlberg Kravis Roberts, also controls leading German commercial broadcaster ProSiebenSat.1 and pan-European TV group SBS Broadcasting. A ProSieben/SBS merger is planned for later this year.
If the deal goes through, analysts have speculated that Permira will move to merge its All3Media/MME production division with ProSieben/SBS to create a vertically integrated pan-European media company.