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GERMANY - Saban to sell ProSiebenSat.1

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According to a report in German news magazine, Focus, US-billionaire Haim Saban is in advanced talks with investors over the sale of his stake in ProSiebenSat1. The report suggests that Saban is speaking with investment bank Goldman Sachs and Apax Partners. French television channel TF1 is also reported to be amongst the bidders.

In 2003 German Media Partners, a syndicate of seven investors led by Saban Capital, including Bain Capital, Hellman and Friedman, Providence Equity Partners, Quadrangle Group and Thomas Lee Partners, acquired a 36% stake in ProSieben from insolvent KirchMedia GmbH for EUR 1bn. The syndicate later increased its equity stake to 50.5%.
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