ProSiebenSat.1 Media SE

M&A Activity • Sep 6, 2001

News Details

Ad-hoc | 6 September 2001 20:33

ProSiebenSat.1 Media AG english

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Munich, September 6, 2001. The Executive Board of ProSiebenSat.1 Media AG and the management representatives of KirchMedia GmbH & Co. KGaA and KirchHolding GmbH & Co. KG today reached an agreement in principle to merge ProSiebenSat.1 Media AG and KirchMedia GmbH & Co. KGaA. After the merger, KirchMedia will be organized as a stock corporation under German law Aktiengesellschaft and its shares will be listed on the stock exchange. The shares of ProSiebenSat.1 Media AG will be subsumed in the new company’s stock. The merger will streamline corporate organizational structures and bolster the financial strength of the new company, making it even more competitive and paving the way for sustained growth. Dr. Dieter Hahn will serve as the Chairman of the new company’s Executive Board. Urs Rohner, Chairman of the Executive Board of ProSiebenSat.1 Media AG, will be a member of the new company’s Executive board and in charge of television operations. Implementation of the merger will begin immediately and should be completed by the end of June 2002. The merger is subject to the approval of the supervisory bodies of both companies and must also be notified to the competent media authorities. end of ad-hoc-announcement (c)DGAP 06.09.2001 ——————————————————————————– WKN: 777 117; Index: MDAX Listed: Amtlicher Handel in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 062033 Sep 01