05.08.2005 – 08:45

ProSiebenSat.1 Media SE

euro adhoc: ProSiebenSat.1 Media AG
Mergers - Acquisitions - Takeovers
Axel Springer AG to Be New Majority Owner of the ProSiebenSat.1 Group

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.

05.08.2005

- Axel Springer AG to acquire all voting rights in the company,
announces      tender offer - Plans for ProSiebenSat.1 Media AG and
Axel Springer AG to merge

Munich, August 5, 2005. Axel Springer AG and P7S1 Holding L.P., the
majority shareholder of ProSiebenSat.1 Media AG, signed a share
purchase agreement for the acquisition of all common and preferred
stock in ProSiebenSat.1 Media AG held directly or indirectly by P7S1
Holding. The agreed purchase price will be EUR 23,37 per share of
common stock, and EUR 14,10 per share of preferred stock. The
purchase, which is subject to approval by the antitrust authorities
and media regulators, will boost Axel Springer AG’s existing indirect
stake (after adjustment for other equity interests) of about 12
percent of ProSiebenSat.1 Media AG to 100 percent of the voting
common stock, and 25 percent of the nonvoting preferred stock. After
the share purchase agreement is consummated, Axel Springer AG will
hold a total of 62.5 percent of the capital stock of ProSiebenSat.1
Media AG.

In addition, in a mandatory announcement under Germany’s Securities
Acquisitions and Takeover Act, today Axel Springer AG published its
decision to make a voluntary cash tender offer to ProSiebenSat.1
Media AG shareholders. The offering price to preferred shareholders
is to be the volume weighted three months average stock price of the
ProSiebenSat.1 preferred stock prior to today's announcement of the
tender offer. According to preliminary calculations, this corresponds
to a price of EUR 14.10 per preference share. Axel Springer will
announce the relevant price as soon as it has been determined. The
offer is likewise subject to approval from the antitrust and media
authorities.

Once Axel Springer AG has completed its majority takeover of
ProSiebenSat.1 Media AG under the share purchase agreement, and the
tender offer has closed, it is planned to merge the two companies. In
the merger, preferred shareholders of ProSiebenSat.1 Media AG will
receive preferred stock in the combined entity.

Contact:
Katja Pichler
Corporate spokesperson
ProSiebenSat.1 Media AG
Medienallee 7
D-85774 Unterföhring
Phone +49 (89) 95 07-11 80
Fax     +49 (89) 95 07-11 84

email: 
Katja.Pichler@ProSiebenSat1.com

end of announcement                               euro adhoc 05.08.2005 08:10:34

Further inquiry note:

Anja Schmidt
Assistenz Konzernsprecherin
Te..: +49 (0)89 9507 1181
E-Mail: anja.schmidt@ProSiebenSat1.com

Branche: Television
ISIN: DE0007771172
WKN: 777117
Index: Midcap Market Index, MDAX, Prime Standard, CDAX, Classic All
Share, HDAX
Börsen: Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Niedersächsische Börse zu Hannover / free trade
Bayerische Börse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Frankfurter Wertpapierbörse / official dealing

Original-Content von: ProSiebenSat.1 Media SE, übermittelt durch news aktuell