ProSiebenSat.1 hikes dividend after Nordics sale
BARCELONA Feb 28 (Reuters) - German commercial broadcaster ProSiebenSat.1 hiked its dividend and said it expected to increase revenue and earnings in 2013 as it moves into new areas such as online gaming.
ProSieben will pay a dividend of 5.65 euros per preference share, against 1.17 euros last year, to partly distribute the proceeds of the $1.7 billion sale of its Scandinavian channels.
Fourth-quarter earnings before interest, tax, depreciation and amortisation (EBITDA), excluding special items, from continuing operations rose to 285.7 million euros from a comparable 281.9 million in 2011.
ProSieben stripped out results from the Scandinavian channels, the sale of which it expects to complete by the end of March.
ProSieben's owners, private equity firms KKR and Permira are preparing an exit from the media group after the $1.7 billion sale of its Scandinavian activities.
Earlier this month they raised 485 million euros in a sale of their non-voting preference shares, which was the first step towards their complete exit from the media group.
KKR and Permira want to exit ProSieben, preferably via a placement of their shares on the market, people close to the private equity firms have told Reuters.
Separately, KKR and Permira have mandated JP Morgan to explore a potential sale of their stake to a media company.