Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Business Leaders  >  All news

Business Leaders

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
HomeAll newsMost read newsBusiness Leaders Biography
Age : 54
Country of residence : Unknown
Biography : Thomas Hermann Rabe is a German businessperson who has been at the head of 16 different companies. D

Regulators should allow RTL and ProSieben to merge: Rabe

share with twitter share with LinkedIn share with facebook
share via e-mail
02/16/2020 | 09:20am EDT
FILE PHOTO: German media group Bertelsmann CEO Rabe attends the annual news conference in Berlin

The head of publisher Bertelsmann said its TV arm RTL should be allowed to merge with German rival ProSiebenSat.1, to give them a fighting chance against U.S. streaming giants.

Thomas Rabe's comments - in an interview with Frankfurter Allgemeine Sonntagszeitung published on Sunday - come as European broadcasters explore ways to join forces against the onslaught from established players Netflix and Amazon Prime that are now being joined by Disney and Apple.

"It is vital that sensible partnerships, and even large mergers, are allowed in order to create national champions in television - for example between RTL and ProSiebenSat.1," Rabe said.

"Otherwise, national companies will simply have no chance in a few years against the giants from Silicon Valley," added the Bertelsmann boss, who took personal charge over its largest unit RTL last year.

ProSieben has become the focus of takeover speculation after Italy's Mediaset amassed a 15.1% stake in the Munich-based broadcaster towards the end of last year.

Mediaset, run by the son of former premier Silvio Berlusconi, has described its ProSieben stake as defensive. At the same time it is trying to persuade ProSieben CEO Max Conze to join a pan-European broadcasting alliance it is setting up.

Conze has so far resisted Mediaset's overtures, preferring to search for ways to cooperate on individual projects.

Reacting to Rabe's comments, ProSieben said: "No talks are taking place at the moment on mergers or acquisitions."

In a statement, ProSieben highlighted work on its adtech joint venture with RTL, called d-force, and repeated its earlier invitation to RTL to sign up to Joyn, its streaming venture with U.S. partner Discovery Inc.

Rabe, in his FAS interview, said it was vital to deregulate the European TV industry because the rules governing it predate the creation of platforms such as YouTube, Facebook and Netflix.

"Competition law does not take into account the forms in which the U.S. platforms are increasingly coming to dominate the media and advertising," he said.

Although he was wearing two hats as the boss of both Bertelsmann and RTL, Rabe said that did not signify the parent company would increase its 75% stake in the TV unit, nor would it seek a delisting.

"RTL Group is and will remain an independent business," he said.

By Douglas Busvine

Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. -0.64% 1906.59 Delayed Quote.3.18%
APPLE INC. -1.44% 241.41 Delayed Quote.-17.79%
DISCOVERY, INC. -1.71% 18.36 Delayed Quote.-43.92%
FACEBOOK -2.53% 154.18 Delayed Quote.-24.88%
MEDIASET -1.32% 1.951 Delayed Quote.-26.65%
NETFLIX, INC. -2.25% 361.76 Delayed Quote.11.80%
PROSIEBENSAT.1 MEDIA SE -2.77% 6.872 Delayed Quote.-50.60%
RTL GROUP -5.64% 28.78 Delayed Quote.-34.56%
SIGNIFY N.V. -3.77% 16.87 Delayed Quote.-39.45%
VIVENDI -2.09% 19.4 Real-time Quote.-24.86%
share with twitter share with LinkedIn share with facebook
share via e-mail
1  2  3  4  5  6  7  8  9  10Next