Media: ProSiebenSat.1 is cutting around 400 jobs in Germany

ProSiebenSat.

Media: ProSiebenSat.1 is cutting around 400 jobs in Germany

ProSiebenSat.1 wants to cut around 400 jobs in Germany this year. That corresponds to around every tenth job in the entertainment core business and in the holding company, said a spokeswoman for the listed media group on Tuesday in Unterföhring near Munich.

The group had announced a realignment after completely taking over the Joyn streaming platform in autumn 2022. ProSiebenSat.1 made them the focus of its entertainment business. According to the company, the organization is now being reorganized, particularly in the entertainment segment. The goal is "a more efficient structure, a competitive cost base and processes clearly geared towards digital transformation," the group said.

The approximately 400 full-time positions are to be reduced in a socially responsible manner through a volunteer program. The company wants to avoid redundancies “as far as possible”. For example, positions that become vacant should not be filled.

News again from your own hand

In the past, ProSiebenSat.1 significantly expanded its information offerings and built new studios for programs for the ProSieben, Sat.1 and Kabel eins channels. Since this year, news has been produced in-house again; before that, it was bought externally from the Axel Springer brand "Welt". The information area is not affected by the cutback plans, according to the company spokeswoman.

In its Austrian market, the group wants to cut up to 35 jobs this year. 550 employees work there.

The job cuts come at a turbulent time at the ProSiebenSat.1 group, which, in addition to TV stations and streaming services, also operates internet trade and dating platform business. The advertising market has been weak for a long time. For 2023 as a whole, the ProSiebenSat.1 Group Executive Board is expecting sales of between EUR 3.95 and 4.25 billion.

There have also been many changes in management. In autumn 2022, Bert Habets, who previously held a top position at competitor RTL, moved to the top position. Rainer Beaujean left surprisingly. Since then, the departure of board members in the areas of finance and entertainment has also been announced.

investigation of any wrongdoing

In addition, the actions of the Group Executive Board for the 2022 financial year were not approved by the shareholders, which is not expected to take place until 2023. The background is an ongoing internal investigation into possible discrepancies in the subsidiary voucher business Jochen Schweizer mydays. It is about investigating any misconduct in connection with regulatory issues at the subsidiary.

The Supervisory Board reserves the right to examine claims for damages against members of the Management Board if necessary. According to ProSiebenSat.1, the Federal Financial Supervisory Authority (Bafin) and the public prosecutor's office in Munich were involved - both authorities did not provide any precise information when asked by the German Press Agency.

Meanwhile, the debate about the Italian major shareholder Media for Europe (MFE) and the family of the deceased politician Silvio Berlusconi does not seem to be heating up any further. German media regulators had started exams because the 25 percent threshold was exceeded.

The question at issue was whether the company MFE gained dominant power of opinion through the programs to which it was assigned. In addition, the aspect of remoteness from the state was considered - in Germany the media are organized remotely from the state. This test in particular has been discontinued since the recent death of former Italian Prime Minister Silvio Berlusconi, said the President of the Bavarian State Center for New Media (BLM), Thorsten Schmiege, of the dpa. At the same time, after the test case, the media regulators are appealing to the federal states to adapt the State Media Treaty. It should be made clearer so that foreign and state-related organizations are listed and clear criteria are introduced if they want to gain a foothold in the German media market.

With regard to power of opinion, the auditors from MFE and ProSiebenSat.1 came to the same conclusion that the change in holdings did not conflict with any reasons to ensure diversity of opinion. According to their own information, the Bavarian media regulators also received a letter from MFE in which they acknowledged the independence and information diversity of the local media offerings.

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