KirchMedia And ProSiebenSat.1 Abandon Merger

In a joint release, the companies stated that “in light of the economic climate and the current situation of KirchGruppe the merger is not feasible in the foreseeable future”. The statement continued: “The two companies will continue to work together, as they always successfully have been doing, to maximise value in the interest of both, taking also advantage, where possible, of cost reduction potential already identified during the merger preparation.”