Bert Habets Extends Contract as CEO of ProSiebenSat.1

Bert Habets will continue to lead ProSiebenSat.1 for an additional three years, following the supervisory board's decision to extend his contract until October 2028. This announcement was made by the media group based in Unterföhring, near Munich. Habets, who has been at the helm of the company since late 2022, is tasked with navigating the firm through significant industry challenges.

The decision for continuity in leadership comes amidst a backdrop of frequent changes at the top of the publicly traded company. Habets succeeded Rainer Beaujean, who departed unexpectedly in 2022. In his role, Habets faces the increasing influence of the Italian major shareholder, MediaforEurope (MFE), associated with the family of the late former Italian Prime Minister Silvio Berlusconi. MFE is looking to acquire additional shares to exceed the 30% ownership threshold, which raises questions about the power dynamics within the company that reported approximately EUR3.9 billion in revenue for 2024.

In a recent interview, Habets expressed surprise at the timing of MFE's intentions, noting a lack of prior communication regarding their plans. He refrained from disclosing the board's stance on the acquisition offer, citing incomplete documentation.

The upcoming annual general meeting in May is expected to address several key issues, including potential job reductions within the company. Habets announced a voluntary program aimed at reducing staff, with clarity on the scope of layoffs anticipated in May. In previous years, approximately 400 jobs were eliminated, and as of the end of 2024, the company employed around 7,000 individuals.

Joyn, the streaming platform that has become central to ProSiebenSat.1's operations, is poised for further development. The company is focusing on its core entertainment business by divesting from other sectors. The objective is for Joyn to emerge as the leading TV and streaming service in the German-speaking market, primarily generating revenue through advertising rather than subscription models.

Currently, ProSiebenSat.1 is embroiled in a legal dispute with public broadcasters concerning the integration of their content on Joyn, with differing interpretations of the legal framework leading to heightened tensions. Legal proceedings are underway, and a verbal hearing involving ZDF and Arte has been confirmed for the upcoming week. Habets commented on the dispute, indicating that the challenges have fostered dialogue and hopes for a collaborative resolution.

In a bid to enhance revenues, Habets is also exploring new avenues in the shopping sector. He emphasized the importance of remaining closely aligned with advertisers, stating that leveraging technology and artificial intelligence will enable advertisers to target their audiences more effectively. The company is actively working on establishing integrated shopping features within Joyn to create additional revenue streams.