KKR, Permira Complete ProSiebenSat.1 Deal

LOS ANGELES/MUNICH, March 7: Private equity firms KKR and
Permira have competed their purchase of German Media Partners’ majority
interest in ProSiebenSat.1 Media.

The holding company Lavena Holding 4 GmbH now owns
approximately 88 percent of the voting common stock and approximately 13 percent
of the non-voting preferred stock, for a total of approximately 50.5 percent of
the capital stock of ProSiebenSat.1.

The deal was announced in December and two months later it
received regulatory clearance by the European Commission and Germany’s Commission
on Concentration in the Media (KEK).

With the deal now closed, Haim Saban’s German Media Partners
says it is giving ProSiebenSat.1’s senior management and employees a bonus
totaling 23 million euros. Saban will now be leaving the Supervisory Board,
along with Adam Chesnoff, John Connaughton, Albert Dobron, Patrick Healy, Ynon
Kreiz, Seth Lawry, Stephen Pagliuca, Brian Powers, Arieh Saban, Scott Sperling
and Joshua Steiner.