The Italian media giant increases its hold over the German commercial TV giant.
Mediaset, the Italian media group controlled by controversial mogul and former Italian Prime Minister Silvio Berlusconi, has increased its stake in Munich-based ProSiebenSat.1, giving Berlusconi sufficient control to block major corporate decisions by the German broadcaster.
Mediaset purchased an additional 3.4 percent in ProSiebenSat.1 late in the week, bringing its direct stake in the German group which owns national networks ProSieben, Sat.1, and Kabel 1 as well as global production outfit Red Arrow (
Love is Blind) to 12.38 percent.
That in itself is not sufficient to sway decisions at ProSiebenSat.1. But Mediaset also holds derivatives that effectively boost its share of ProSiebenSat.1 s voting rights, giving the Italian group a de facto blocking majority in the German company.