Cross-border European TV merger would make little sense: ProSieben CEO

BERLIN (Reuters) - A cross-border European TV merger would make little sense, the CEO of German broadcaster ProSiebenSat.1 Media PSMGn.DE said on Wednesday, pushing back against calls for closer cooperation from Italy's Mediaset MS.MI.

“A trans-European merger would bring few synergies,” Rainer Beaujean said in response to a question at ProSieben’s annual general meeting, adding that such deals would not help to cut costs for local programming.

Beaujean also told the AGM, held online due to the coronavirus, that ProSieben was not holding strategic talks either with Mediaset or with Daniel Kretinsky’s Czech Media Invest. Both own double-digit stakes in Munich-based ProSieben.

(This story has been refiled to insert dropped word “merger” in headline)

Reporting by Douglas Busvine; editing by Thomas Seythal and David Goodman