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ProSiebenSat.1 Sells Controlling Share to Private Equity Group

Private-equity firms Kohlberg Kravis Roberts of the U.S. and Permira of Europe agreed to buy a controlling stake in German broadcaster ProSiebenSat.1, according to a person familiar with the matter, The Wall Street Journal reported.

ProSiebenSat.1, Germany's largest television broadcaster by advertising revenue, was the subject of a bidding war between the KKR and Permira partnership, Turkish media group Dogan Yayin Holding and a combined bid from Apax Partners of the U.K. and Goldman Sachs Group of the U.S., the Journal reported.

It has not been confirmed how much the final deal valued ProSieben at, but people close to the company estimated it being slightly more than 6 billion euros ($7.93 billion), the paper said.

A spokesman for the controlling shareholder group, German Media Partners LP, declined to comment.