ProSiebenSat.1 Assesses Acquisitions As It Outlines Renewed Entertainment Focus

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ProSiebenSat.1 Assesses Acquisitions As It Outlines Renewed Entertainment Focus
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German media group ProSiebenSat.1 is to double down on entertainment investments and is eyeing acquisitions, as it puts streaming service Joyn at the center of its business. A statement released th…

CEO Bert Habets, the network has “everything it takes to reach millions every day,” and noted: “In the future our investment focus will be on our entertainment business.”

The company is regularly “reviews opportunities for acquisitions” and is also planning to to put more cash into its newsroom, local programs and “closer cooperation” with creators so it can reach more platforms. Streaming service Joyn will form the central spine of ProSieben’s digital entertainment strategy and will become “the entertainment and lifestyle brand for the whole family in the German-speaking region” of Europe, according to Habets. “To this end, ProSiebenSat.1 is also strengthening Joyn’s aggregator approach,” he added.

While a major European entertainment company investing in content and production companies isn’t exactly mind-blowing, ProSieben had been quiet on the acquisitions front for a while. In fact, it has been more focused on shopping assets, notablyIn November last year, the broadcaster its production operations under a Seven.One Studios banner that bundles together German, U.S., Danish and Israeli companies, plus sales division Red Arrow Studios International.Must Read Stories

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