euro adhoc: ProSiebenSat.1 Media AG
other
Ad hoc Publication pursuant to
Sec. 15 German Securities Trading Act (WpHG)
Federal Cartel Office will close proceedings against ProSiebenSat.1 Media AG
against payment of a fine
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Antitrust Issues
05.10.2007
Munich, October 5, 2007. The Federal Cartel Office will close the proceedings against ProSiebenSat.1 Media AG and its ad sales division SevenOne Media against payment of a fine. The proceedings were part of an industry-wide investigation against advertising sales houses and market participants in Germany. The Federal Cartel Office has concluded in substance that so-called share of advertising rebates - last implemented in the 2006 booking season - between ProSiebenSat.1 Media AG and the media agencies are vertical restraints of competition. ProSiebenSat.1 Media AG will no longer offer the share of advertising rebates which have been common industry practice. ProSiebenSat.1 Media AG will now use a new pricing model for media agencies and the advertising industry which is in line with cartel law. ProSiebenSat.1 Media AG is confident that it will be able to continue to achieve its performance targets under the new sales model.
In order to avoid lengthy court actions and negative impacts on the business activities of ProSiebenSat.1 Media AG, the Company has decided to accept a fine in the amount of EUR 120 million. The Federal Cartel Office has, for the first time, calculated the fine by applying the new rules of the 7th amendment to the cartel law and the Federal Cartel Office´s guidelines for the setting of fines. These new rules result in a significant increase in the level of fines, when compared to prior cartel law cases.
The Company will provide the full amount in its fiscal 2007 accounts.
end of announcement euro adhoc 05.10.2007 10:30:34
Further inquiry note:
Katja Pichler
Corporate Spokesperson
Tel.: +49 (0)89 9507 1180
E-Mail: Katja.Pichler@ProSiebenSat1.com
Branche: Media
ISIN: DE0007771172
WKN: 777117
Index: Midcap Market Index, MDAX, CDAX, Classic All Share, HDAX
Börsen: Börse Frankfurt / official dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Düsseldorf / free trade
Börse Hannover / free trade
Börse München / free trade