DOW JONES NEWSWIRES
Finnish media company Sanoma Oyj (SAA1V.HE) said Friday it has
submitted an offer to acquire German media group ProSiebenSat.1
Media AG's (PSM.XE) free-to-air TV assets in the Netherlands and
Belgium, together with local partners.
In a statement, Sanoma said: "There can be no certainty that
Sanoma will be selected for negotiations or that such negotiations
would result in a transaction."
Sanoma declined to comment further on the offer or on the local
partners it has joined forces with to submit the offer.
ProSiebenSat.1 Media has asked bidders for its Benelux and
Scandinavian units to submit binding bids by the end of next week,
people familiar with the situation told Dow Jones Newswires
Tuesday.
The business, formerly known as SBS Broadcasting, was put on the
block earlier this year by Kohlberg Kravis Roberts & Co. and
Permira, the private equity owners of ProSiebenSat.1 Media.
JPMorgan Chase & Co. (JPM) is running the process.
Dutch media group TMG and Swedish broadcasting company Modern
Times Group MTG AB (MTG-B.SK) have said they are interested in the
assets.
Buyout firm Hellman & Friedman and former SBS executive and
ProSieben management board member Patrick Tillieux have been
working on a joint bid.
-By Niclas Rolander, Dow Jones Newswires; +46-8-5451-3102;
niclas.rolander@dowjones.com