October 18, 2019 / 5:28 PM / 2 months ago

Slovak investor Patrik Tkac builds stake in Germany's ProSieben

BERLIN (Reuters) - Slovak investor Patrik Tkac has disclosed a 3.6% stake in ProSiebenSat.1 Media (PSMGn.DE), the German broadcaster that has for months been a focus of speculation on possible consolidation in the European television industry.

Tkac’s holding exceeded a 3% threshold that triggers a disclosure requirement under stock exchange rules. He last made news in Germany with a failed bid, alongside Czech partner Daniel Kretinsky, for retailer Metro (B4B.DE).

Asked for comment, ProSieben said: “We welcome every investor in ProSiebenSat.1 and see this as a confirmation of our strategy.”

ProSieben is, under the leadership of CEO Max Conze, seeking to expand its digital footprint, diversify further into e-commerce and divest its U.S. production assets, to offset weak ad revenues in its core commercial TV business.

Mediaset (MS.MI), the media group built up by Italian former Prime Minister Silvio Berlusconi and now run by son Pier Silvio, earlier this year acquired a stake of nearly 9.6% in ProSieben and said it was open to a possible merger.

Reporting by Douglas Busvine; Editing by Elaine Hardcastle

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