FRANKFURT Jan 12 Italy's Mediaset and
France's TF1 will take a stake in ProSieben's
multi-channel network Studio71 via a capital increase
that values the unit at 400 million euros ($425 million),
ProSieben said on Thursday.
As part of the investment, Mediaset and TF1 will hold 5.5
percent and 6.1 percent, respectively, in Studio71, which has
about 6 billion monthly views, the German broadcaster said,
adding it would keep a stake of about 70 percent.
Under the deal, ProSieben will take a minority stake in
Finder Studios, which was co-founded by TF1, it said, adding it
has set up a joint venture with Mediaset to roll out the
Studio71 business model in Italy.
"The partnership with TF1 Group and Mediaset gives us access
to key European markets where the online video market is just
now really picking up momentum and promising significant
potential," Christof Wahl, ProSieben's chief operating officer,
said in a statement.
($1 = 0.9404 euros)
(Reporting by Christoph Steitz; Editing by Harro ten Wolde)