DISCLOSURE OF AN INSIDE INFORMATION PURSUANT TO ARTICLE 17 MAR OF THE REGULATION (EU) NO. 596/2014: Ad Hoc Publication Pursuant to Sec. 15 German Securities Trading Act (WpHG): ProSiebenSat.1 Sells News Station N24 to Bidder Consortium around Torsten Rossmann and Stefan Aust
Munich, June 16, 2010. ProSiebenSat.1 is selling news station N24 and production company MAZ&MORE to a bidder consortium around N24 Managing Director Dr. Torsten Rossmann and Stefan Aust. The company will be Germanys largest independent TV information producer. It will be headquartered in Berlin.
The share purchase agreement between ProSiebenSat.1 Media AG and the new N24 Media GmbH for the acquisition of N24 Gesellschaft für Nachrichten und Zeitgeschehen mbH and MAZ&MORE TV Produktion GmbH was signed today in Munich. The parties also agreed on a contract for the supply of news programming until the end of 2016, under which N24 will become the news supplier for the ProSiebenSat.1 Groups stations SAT.1, ProSieben and kabel eins. The parties expect the closing of the transaction to occur by the end of July 2010.
The disposal of N24 will entail costs of up to EUR 41 million for the ProSiebenSat.1 Group. Additionally up to EUR 12 million of write downs of non-current assets are expected. These effects will be recognized as non-recurring expenses in the income statement for the second quarter of 2010. On the whole, the ProSiebenSat.1 Group expects the transaction to improve recurring EBITDA by at least EUR 25 million per year, starting in 2011. Accordingly, the disposal will have a positive effect on the Groups recurring EBITDA already for 2010 on a pro rata basis after closing.
ProSiebenSat.1 Group
Corporate Communications
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Phone: +49 [0]89-9507-1145
Fax: +49 [0]89-9507-1159
info@prosiebensat1.com
www.prosiebensat1.com
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