ProSiebenSat.1 & Axel Springer Reportedly in Merger Talks

BERLIN: The German media giants ProSiebenSat.1 and Axel Springer are said to be in talks regarding a potential merger, valued at 14.4 billion euros ($15.9 billion).

ProSiebenSat.1 Media is Germany’s biggest commercial broadcaster, and Axel Springer is the country’s largest newspaper publisher. Together, the two companies delivered 2014 revenue of 5.9 billion euros ($6.5 billion).

The reported merger talks come a decade after the two had initially taken steps to combine. In 2005, Alex Springer made a move to take over ProSieben for more than 4 billion euros ($4.37 billion). The deal, though, was rejected by Germany's federal cartel office.

Axel Springer said in a statement: "Although as a basic rule, Axel Springer SE does not comment on the substance of market speculations, the following applies: Axel Springer SE continues to pursue the transformation of the company's legal form into a KGaA (partnership limited by shares/Kommanditgesellschaft auf Aktien) with the goal to secure the continuation of Axel Springer Gesellschaft für Publizistik GmbH & Co./Friede Springer’s control of the company on a long-term basis and open up growth options. Thus, speculations regarding a relinquishment of control are completely unfounded."