MFE-MediaForEurope, the Italian TV group controlled by the Berlusconi family, has called a board meeting to review a potential takeover bid for German broadcasting rival ProSiebenSat.1, according to a Reuters report.

MFE, which runs TV operations across Italy and Spain, already has a near 30 per cent stake in ProSiebenSat.1 as part of a strategy to create a pan-European advertising-funded broadcaster. Any stake over a 30 per cent threshold triggers a mandatory buyout offer if surpassed under German law.

ProSiebenSat.1, which also has operations in Austria and Switzerland, had so far resisted MFE’s calls to join its European expansion. MFE sees rapid expansion as key in taking on the increasing dominance of US streaming giants such as Netflix, Prime Video and Disney+.

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Tags: MFE, ProSiebenSat.1, Reuters