Czech investment group PPF announced yesterday it has taken a 9.1% stake in ProSiebenSat.1 Media SE, becoming the German broadcaster’s second-largest investor behind Italy’s MFE-MediaforEurope.

“PPF believes the digital transformation of ProSieben will create value for all shareholders,” PPF said in a statement. “PPF is looking forward to liaising with the management and supervisory board of ProSieben in this digitalization process.”

Frankfurt-listed ProSiebenSat.1 shares were up 1.65%, Reuters notes.

The group, which also owns the CME group that operates dozens of channels in six central and east European markets, is now controlled by Kellner’s widow, Renata Kellnerova.

“We are pleased that Ms Kellnerova sees ProSiebenSat.1 as an attractive investment and has placed her trust in our company,” a spokesperson for ProSieben said, adding there had been initial contact with PPF, which was very positive.

MFE-MediaforEurope, which is controlled by the family of former Italian Prime Minister Silvio Berlusconi and has built a potential stake of up 29.9% in ProSieben, earlier this month ruled out a full merger and takeover bid at present but said closer cooperation was possible.

CEETV reminds that in 2021 Czech billionaire Daniel Kretinsky lowered his stake in ProSiebenSat.1 from 4.83% to 2.97%, while at one point he held around 12% of the shares of the company.