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ProSieben says MFE turned down offer of supervisory board seat -Breaking

by Mike Robinson

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© Reuters. ProSiebenSat.1 logo is visible in Unterfoehring at the head office. This was taken November 5, 2020. REUTERS/Andreas Gerbert

BERLIN (Reuters), – German broadcaster ProSiebenSat.1 reported that MediaForEurope, an Italian shareholder, has turned down an offer for one seat on the supervisory board.

MFE repeatedly called on the Munich-based company to work closer with it, where it holds a greater voting share of over 25%. It also asked it for talks about strategy and to focus its TV business.

MFE is controlled by Silvio Berlusconi’s family, the former Prime Minister of Italy. It sees the building of a champion TV network as the solution to the challenges faced by traditional broadcasters and streaming companies.

MFE did not respond to our request for comment.

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