German Broadcaster ProSiebenSat.1 Approached About Sale of Nordic Assets
German broadcast giant ProSiebenSat.1 Media confirmed Thursday that it has been approached about a potential acquisition of its Scandinavian assets.
A spokesman told THR that the company is evaluating offers to see if they are serious and if price tags offered are appropriate.
Bloomberg News had reported that the firm's financial adviser JPMorgan Chase had been approached by several parties.
The company's holdings in Scandinavia, which include TV channels Kanal 5 and Kanal 9 in Sweden and broadcasters TV Norge, FEM, Vox and Max in Norway, could be worth 1.4 billion euros ($1.75 billion) or more, it said.
ProSiebenSat.1 last year also sold off its Dutch and Belgian broadcasting and print assets to reduce its debt, but decided to keep its Scandinavian holdings. A sale of the Nordic business would further sell off parts of SBS Broadcasting, with which it merged a few years ago.
Previous reports had said that Discovery Communications was among those interested in the Scandinavian businesses. Discovery wasn't immediately available for comment.
ProSiebenSat.1 is majority-owned by private equity firms Kohlberg Kravis Roberts and Permira.
Its stock was up 3.3 percent as of mid-day.