ProSiebenSat.1 Media

ProSiebenSat.1 Media SE (officially abbreviated as P7S1, formerly ProSiebenSat.1 Media AG) is a European mass media company, based in Germany. It operates free-to-air commercial TV channels, pay TV channels, radio stations and related print businesses. It was formed on October 2, 2000 by the merger of German TV broadcasters ProSieben Media AG (founded in 1989) and Sat.1 SatellitenFernsehen GmbH (founded in 1984 as PKS (Programmgesellschaft für Kabel- und Satellitenrundfunk)). The company is listed on the Frankfurt Stock Exchange and is a component of the DAX index.HistoryKirchMedia GmbH & Co. KGaA became the majority shareholder in ProSieben Media AG at the end of 1999. ProSieben Media AG and Sat.1 GmbH, which was also part of the Kirch group, merged in 2000. The company controlled various TV channels such as SAT.1, ProSieben, kabel eins and N24.Collapse of the Kirch group and takeover by Haim SabanThe company nearly merged with KirchMedia GmbH in 2002, but the merger failed due to the insolvency of the Kirch group. The company's stock price crashed following the failed merger. In 2003 the company was bought out by P7S1 Holding, which 25-percent owned by Haim Saban's Saban Capital Group and other investors, who got an 88 percent voting share. Saban took over the TV channel group for 500 million Euros. The remaining 12 percent belonged to Axel Springer AG.