REUTERS - June 10 - ProSiebenSat.1 Media's new CEO resisted calls for a European TV industry merger. Rainer Beaujean, hired in March to run the German broadcaster after predecessor Max Conze's pivot to digital commerce unravelled, is under pressure to deliver better growth and profits as investors led by Italy's Mediaset circle. Beaujean vowed to chart a course to returns on capital of ~15%, saying he had made the company "storm-proof" in the face of a 40% slump in ad revenues. "A trans-European merger would bring few synergies," Beaujean said. ProSieben was not in strategic talks either with Mediaset or Daniel Kretinsky's Czech Media Invest, both of which have amassed double-digit stakes. ProSieben plans to float its online dating business in 2022.
by Douglas Busvine
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