ProSiebenSat.1 Media AG is to acquire SBS Broadcasting Group. The transaction volume totals EUR 3.3 billion. The ProSiebenSat.1 Group and the shareholders of the SBS Broadcasting Group signed a share purchase agreement on Wednesday.

Through this transaction, ProSiebenSat.1 Media AG, Germany’s largest TV corporation, intends to create a pan-European broadcasting group. “This transaction is a major step into the future for the ProSiebenSat.1 Group. Both geographically and strategically, the SBS Broadcasting Group is the perfect fit for ProSiebenSat.1. The SBS acquisition is an investment in growth, and will allow us to diversify our revenue sources still further. The combination of ProSiebenSat.1 and SBS creates a pan-European broadcasting platform with the proven skills and resources to expand activities in the respective new geographical markets and to invest in additional channels, online services and content creation,” said ProSiebenSat.1 Media AG CEO Guillaume de Posch.