Italian broadcaster Mediaset has acquired a 9.6-per-cent stake in German commercial broadcaster ProSiebenSat.1.
The Reuters news agency reported that Mediaset’s €330m ($368m) investment saw ProSiebenSat.1’s share prices rise by seven per cent.
Mediaset said in a statement that the acquisition is designed to develop scale economies, which it views as “crucial for the future of European television”.
Mediaset is controlled by former Italian Prime Minister Silvio Berlusconi through his holding company Fininvest.
Berlusconi’s son, Pier Silvio, serves as chief executive of Mediaset. He said the acquisition of a stake in ProSiebenSat.1 is a “long-term choice” for the broadcaster.