Axel Springer Completes Sale of ProSiebenSat.1 Stake

MUNICH, January 17: Axel Springer has concluded the sale of
its 12-percent stake in ProSiebenSat.1 Media to majority owners KKR and
Permira.

Lavena Holding 5 GmbH, a company controlled by funds advised
by KKR and Permira, formerly held approximately 50.7 percent of the capital
stock of ProSiebenSat.1; that has now increased to about 62.7 percent. Lavena
now holds 100 percent of the company’s voting common stock and approximately 25
percent of the non-voting preferred stock.

In connection with the sale of Axel Springer’s stake, both Mathias
Döpfner, the chairman of the executive board of Axel Springer, and
Christian Nienhaus, the managing director of Bild Group, resigned from their
seats on the Supervisory Board of ProSiebenSat.1 Media AG, effective
immediately.

—By Mansha Daswani