Italy’s MediaForEurope (MFE) is set to become the majority shareholder of Germany’s ProSiebenSat.1 (P7S1) and the largest FTA broadcaster in Europe.

In a consolidating German market, P7S1 had no alternative credible option than to accept the (increased) MFE offer.

MFE believes that its new leadership position in European broadcasting will allow it to challenge platforms such as YouTube for regional advertising budgets.

The Berlusconi family-backed MediaForEurope’s (MFE) public offer may not be taken up by many ProSiebenSat.1 (P7) shareholders, but will allow it to raise its stake to above 30%.

Without a core shareholder, ProSieben has flipped-flopped through unsuccessful strategies to meet the digital transition challenge.

MFE believes that European commercial television must build cross-border scale to compete with global streamers.