Private equity owners KKR and Permira have mandated JP Morgan to explore an exit from German media group ProSiebenSat.1 , two persons familiar the companies involved told Reuters."JP Morgan will check whether anchor investors in the media business or companies are interested in ProSieben as a whole or whether the private equity owners' shares have to be floated," one person said.KRR and Permira, which own 88 percent of the voting shares, with Dutch publisher Telegraaf Media Group holding the remaining 12 percent, said in December they would prepare an exit following the sale of ProSieben's Scandinavian activities.The $1.7 billion disposal to Discovery Communications is expected to close in the current quarter.
Discovery Communications, Inc. (Discovery) is a global nonfiction media and entertainment company that provide programming across multiple distribution platforms worldwide. Shares of DISCA fell by 0.21% or $-0.15/share to $70.16. In the past year, the shares have traded as low as $42.79 and as high as $70.37. On average, 1420790 shares of DISCA exchange hands on a given day and today's volume is recorded at 139443.
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