French broadcaster TF1 and Italian broadcaster Mediaset have become minority shareholders in Studio71, a multi-channel network that forms part of the ProSiebenSat.1 Group.
TF1 and Mediaset announced a combined investment of EUR 53 million in the company at a valuation of approximately EUR 400 million. ProSiebenSat.1 retains 70 percent of Studio71 shares. As part of the transaction, Studio71 will establish local operations in both France and Italy.
In France, Studio71 has acquired a strategic minority interest in Finder Studios, a network in which TF1 Group is the controlling shareholder. This investment is subject to approval by the German Federal Cartel Office and the Austrian Federal Competition Authority. In Italy, Studio71 will partner with Mediaset to launch the Studio71 brand in the Italian market.
Studio71 was formed by the merger of Collective Digital Studio and ProSiebenSat.1 Group’s Studio71. It is currently the fourth largest multi-channel network in the world and generates 6 billion monthly views on YouTube alone, according to a release from the company.
