ProSieben to buy Austria's PULS TV, shares fall
(Adds more detail, background, share price)
FRANKFURT, July 5 (Reuters) - German commercial television broadcaster ProSiebenSat.1 (PSMG_p.DE) said on Thursday it would buy Austria's PULS TV from a group of private investors.
The parties had agreed not to disclose financial details of the transaction, which still requires regulatory approval, ProSieben said in a statement.
ProSieben last week bought rival SBS Broadcasting for 3.3 billion euros ($4.49 billion) to create Europe's second biggest television provider.
ProSieben shares were 1 percent lower at 29.81 euros at 0800 GMT, underperforming the DJ EuroStoxx European media sector index .SXMP, which was 0.1 percent lower.
ProSieben said on Thursday it expected above average growth in the Austrian TV commercials market thanks to the expanding popularity of digital satellite receivers.
Public broadcaster ORF is Austria's dominant TV player with a market share of 48 percent in 2006. German TV channels are widely watched in German-speaking Austria, giving scarce room for homegrown commercial broadcasting.
PULS TV's 24-hours-a-day broadcast, which focuses on entertainment, information and local reports, can currently be seen only in the capital Vienna and the surrounding region.
(Additional reporting by Boris Groendahl in Vienna)
((Reporting by Peter Starck and Catherine Hornby, editing by Greg Mahlich; tel + 49 69 7565 1263; catherine.hornby.reuters.com@reuters.net))
($1=.7347 Euro) Keywords: PROSIEBEN PULS/
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