ProSiebenSat.1 Media SE

Legal Proceedings Report • Mar 20, 2002

News Details

Ad-hoc | 20 March 2002 17:16

ProSiebenSat.1 Media AG english

KirchMedia and ProSiebenSat.1 Media AG Announce Termination of Merger Plan Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– NOTICE PURSUANT TO § 15 GERMAN SECURITIES TRADING ACT (WPHG) KirchMedia and ProSiebenSat.1 Media AG Jointly Announce Termination of Merger Plan Munich, 20 March 2002. KirchMedia and ProSiebenSat.1 Media AG jointly announced today their decision to terminate discussions on the merger proposed in September 2001. The Management Board of KirchMedia and the Executive Board of ProSiebenSat.1 Media AG agree that in light of the economic climate and the current situation of KirchGruppe the merger is not feasible in the foreseeable future. The two companies will continue to work together, as they have always successfully been doing, to maximise value in the interest of both, taking also advantage, where possible, of cost reduction potential already identified during the merger preparation. Contact:Dr. Torsten Rossmann, Company Spokesperson ProSiebenSat.1 Media AG, Medienallee 7, D-85774 Unterföhring Tel.: +49 89 95 07-11 80 Fax: +49 89 95 07-11 84 email: Torsten.Rossmann@ProSiebenSat1.com Press release online: www.ProSiebenSat1.com end of ad-hoc-announcement (c)DGAP 20.03.2002 ——————————————————————————– WKN: 777 117; ISIN: DE0007771172; Index: MDAX Listed: Amtlicher Handel in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 201716 Mär 02