Italian broadcaster MFE-MediaforEurope has ruled out a complete merger with German broadcaster ProsiebenSat.1 for the time being – as well as a takeover bid – but is open to closer cooperation.

Controlled by the family of former Italian Prime Minister Silvio Berlusconi, MFE has built a potential stake of 29.9 per cent in its rival as part of its ambition to consolidate the European TV sector.

“As of now, honestly, we cannot talk of a merger, and would be absurd talking about a takeover bid,” MFE Chief Executive Pier Silvio Berlusconi said at a press briefing in Milan on February 2nd, reports Reuters. He added, however, that he was still “confident the two companies can join forces to develop some joint projects.”

MFE recently announced it would complete its planned merger with its Spanish-listed subsidiary, as part of its strategy to build a European TV heavyweight to take on the US streaming giants.

Talks of a full merger came to light in December 2022.

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Tags: merger, MFE, Prosieben