Sanoma Submits Highest Bid For ProSieben Assets - Report
16 April 2011 - 9:23PM
Dow Jones News
Finnish media company Sanoma Oyj (SAA1V.HE) and its local
partners have placed the highest bid for the Dutch TV channels
owned by competitor ProSiebenSat.1 Media AG (PSM.XE), newspaper De
Standaard reported Saturday, citing people familiar with the
situation.
It's not clear whether the bid will be enough however, the
newspaper reported, citing a separate source as saying ProSieben
plans to push for an even higher price.
Sanoma may have bid more than EUR1 billion for the Dutch
channels SBS6, Net 5, and Veronica, the newspaper reported, adding
that the winner of the bidding process should be known before the
Easter break, which begins on Friday.
ProSiebenSat.1 started an auction process for the sale of its
assets in Belgium, the Netherlands and Nordic countries in recent
months, but will only sell if the price is right. The assets being
sold are all part of ProSiebenSat.1's unit formerly known as SBS
Broadcasting.
-By Frances Robinson, Dow Jones Newswires; +32 2 741 1486;
frances.robinson@dowjones.com