BERLIN (Reuters) – German broadcaster ProSiebenSat.1 said that Italian shareholder MediaForEurope (MFE) has rejected an offer of one seat on its supervisory board.
MFE has repeatedly called for closer cooperation with the Munich-based group, in which it has a voting stake of more than 25%, as well as asking it to engage in talks over strategy, focusing on its core TV business.
Controlled by the family of Italy’s former Prime Minister Silvio Berlusconi, MFE sees building a continental TV champion as the answer to challenges posed to traditional broadcasters by streaming giants and online advertising platforms.
MFE declined to comment.
(Reporting by Alexander Huebner, additional reporting by Elvira Pollina, Writing by Miranda Murray, editing by Thomas Escritt)
