ProSiebenSat.1 Media AG

euro adhoc: ProSiebenSat.1 Media AG
Mergers - Acquisitions - Takeovers / Commission for Determining Concentration in the Media Sector denies clearance for the intended takeover of the ProSiebenSat.1 Group by Axel Springer AG

-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. -------------------------------------------------------------------------------- 10.01.2006 In its meeting on January 10, 2006 the Commission for Determining Concentration in the Media Sector (KEK) decided that, in relation to the intended takeover of ProSiebenSat.1 Media AG by Axel Springer AG, the prerequisites for the confirmation of non-objection under applicable media-supervisory laws are not given. Reasons for the denial have not been given yet. The State Media Institutions, which are competent to grant and deny, respectively, such confirmation of non-objection vis-à-vis the TV stations of the ProSiebenSat.1 Group, are bound by this decision of KEK unless, upon application of one of the State Media Institutions, the Conference of the Directors of the State Media Institutions (KDLM) renders a deviating decision. Such resolution of KDLM would require a majority of three quarters of its members. In this way, a clearance of the transaction under applicable media-supervisory laws could still be achieved irrespective of the negative decision of KEK. In the parallel proceedings regarding the approval of the transaction by the Federal Cartel Office, Axel Springer AG will have to react by January 12, 2006 to the second preliminary ruling from the Federal Cartel Office dated January 6, 2006 regarding an intended denial of such approval. On August 5, 2005 Axel Springer AG had entered into a share purchase agreement with the current majority shareholder of ProSiebenSat.1 Media AG, P7S1 Holding L.P., regarding the acquisition of all common and preferred stock in ProSiebenSat.1 Media AG held directly or indirectly by P7S1 Holding L.P. By virtue of this acquisition, Axel Springer AG would increase its existing indirect shareholding in ProSiebenSat.1 Media AG from around 12 percent today to 100 percent of the voting common stock and 25 percent of the nonvoting preferred stock. The consummation of the share purchase agreement is, however, still subject to approval of the transaction by the antitrust authorities and media regulators. The same is true for the public tender offer submitted by Axel Springer AG which lapsed on November 3, 2005. In case of a definitive denial of the required antitrust and regulatory approval, the transaction including the tender offer would therefore not be consummated. end of announcement euro adhoc 10.01.2006 16:59:50 -------------------------------------------------------------------------------- ots Originaltext: ProSiebenSat.1 Media AG Im Internet recherchierbar: Further inquiry note: Katja Pichler Corporate Spokesperson Tel.: +49 (0) 895907 1180 E-Mail: Branche: Television ISIN: DE0007771172 WKN: 777117 Index: Midcap Market Index, MDAX, CDAX, Classic All Share, HDAX Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard Börse Berlin-Bremen / free trade Hamburger Wertpapierbörse / free trade Börse Düsseldorf / free trade Niedersächsische Börse zu Hannover / free trade Bayerische Börse / free trade

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