ProSiebenSat.1 Offloads C More Entertainment

MUNICH/STOCKHOLM, June 16:
ProSiebenSat.1 Group has sold the Nordic pay-TV company C More Entertainment,
which it acquired through its merger with SBS Broadcasting, to Sweden’s TV4
Group.

C More operates the Canal+
premium pay-TV brand in Denmark, Finland, Norway and Sweden. The network
features a slate of feature films and series from all the Hollywood majors and
sports coverage including Premier League, Italian Seria A, NHL and several
Nordic leagues.

Announcing the sale, the
financial details for which were not disclosed, Patrick Tillieux, the COO of
ProSiebenSat.1 Group, said: "Free-TV is the core of our business. In that
respect, the sale of C More is an important part of our strategy. I am happy
that we have found a strategic investor, for whose portfolio C More is an ideal
complement."

Guillaume de Posch, the CEO of ProSiebenSat.1 Group, added:
"There was great interest in C More from strategic as well as financial
investors. We plan to use the proceeds from the transaction primarily for debt
reduction."

“For the first time, we
are now establishing ourselves in the premium pay market, a market that has
developed with broader distribution and strong growth for several years,” said
Jan Scherman, the CEO of TV4 Group. “This will also contribute to decrease our
dependence on advertising revenue.”

“C More's different sports
and movie channels are a perfect complement to the TV4 Group with a broad offer
based on quality,” added Torsten Larsson, TV4 Group’s chairman of the board.
“This will benefit both TV4 as well as C More's viewers in all countries, when
C More now is getting a long-term industrial owner.”

—By Mansha Daswani