ProSiebenSat.1 Confirms KKR/Permira Deal

MUNICH, December 15: ProSiebenSat.1 Media has confirmed the
acquisition of a majority stake in the company by Lavena Holding 4 GmbH, which
is controlled by funds advised by KKR and Permira.

Upon completion of the deal with the Haim Saban-led German
Media Partners, Lavena Holding 4 GmbH will acquire approximately 88 percent of
the voting common shares and approximately 13 percent of the non-voting
preference shares in ProSiebenSat.1 Media AG and will hold 50.5 per cent of the
registered share capital. The parties have agreed on a price of 28.71 euros per
common share and of 22.40 euros per preference share. The completion of the
agreement is subject to antitrust and media regulatory clearances. Lavena
Holding 4 GmbH is also launching a voluntary public takeover offer to the
shareholders of ProSiebenSat.1 Media AG

KKR and Permira do intend to combine the German broadcasting
group with their majority owned SBS Broadcasting, creating a pan-European
broadcasting entity to rival the RTL Group.

“KKR and Permira have indicated that they will fully support
the strategy currently pursued by the group: to strengthen our core
business—free TV—to diversify our revenue sources and to position
the group for the digital world,” said ProSiebenSat.1 Media’s CEO, Guillaume de
Posch. “Moreover, we’re delighted at the strategic prospects that the
ProSiebenSat.1 Group could gain through its new principal shareholders: SBS is
the leading integrated pan-European broadcasting group. As the hub of a new
European TV group, we would be able to expand our successful corporate strategy
on an international scale.”