ProSiebenSat.1 sells TV and print operations in the Netherlands and Belgium to international media consortium

Munich, April 20, 2011. The ProSiebenSat.1 Group has agreed to sell its TV and print operations in the Netherlands and its TV business in Belgium to a consortium consisting of leading international media groups. The consortium comprises Sanoma Corporation and Talpa Holding N.V. for the Netherlands, and Sanoma Corporation, Corelio N.V. and Waterman & Waterman CVA for Belgium. The respective share purchase agreements were signed today. The production business of the ProSiebenSat.1 Group in the Netherlands and Belgium is not included in the transaction and will remain part of ProSiebenSat.1 Group. The transaction relating to the Netherlands is subject to merger clearance. The total enterprise value underlying both transactions is Euro 1.225 billion. This represents a multiple of 10.6 times for all assets, based on a full-year 2010 adjusted EBITDA of Euro 115 million for these operations. Thomas Ebeling, CEO of ProSiebenSat.1 Media AG: "The transaction value for the assets in Belgium and the Netherlands represents a significant strategic premium on our Group trading multiple. This valuation upside benefits both the company and our stakeholders. We have now successfully completed this strategic review." At the end of 2010, ProSiebenSat.1 reported a financial leverage of 3.3 times net debt to recurring EBITDA. Thomas Ebeling: "The transactions will significantly reduce net financial debt and leverage of our company. Management is committed to reducing leverage even further. We are therefore targeting a new short- to mid-term leverage of 1.5 to 2.5 times net debt to recurring EBITDA for the company." The sale of operations in Belgium and the Netherlands is the result of a comprehensive strategic review conducted by ProSiebenSat.1 in its Belgian, Dutch and Nordic markets. The Nordic businesses remain portfolio assets of the Group. This strategic review is now completed. Thomas Ebeling: "The Nordic markets continue to be attractive assets for our Group. Due to their dynamic growth in advertising and in carriage fees, they are a valuable cornerstone of our revenue diversification strategy." ProSiebenSat.1 will report its Q1 2011 results on May 5, 2011. Contact:

Julian Geist
Group Spokesperson
ProSiebenSat.1 Media AG
Medienallee 7
D-85774 Unterföhring
Tel. +49 [89] 95 07-11 51
Fax +49 [89] 95 07-911 51
E-Mail:
Julian.Geist@ProSiebenSat1.com

Katrin Schneider
Corporate Communication
ProSiebenSat.1 Media AG
Medienallee 7
D-85774 Unterföhring
Tel. +49 [89] 95 07-11 64
Fax +49 [89] 95 07-911 64
E-Mail:
Katrin.Schneider@ProSiebenSat1.com Press release online:
www.ProSiebenSat1.com

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