ProSiebenSat.1 wants to take over Joyn completely

Dhe television company ProSiebenSat.1 wants to take over the Joyn streaming platform completely and subsequently adjusts its annual forecast. The outstanding 50 percent of the shares in Joyn are to be taken over by the joint venture partner Warner Bros. Discovery, as the company listed in the M-Dax announced on Tuesday in Unterföhring near Munich.

"Full control of Joyn gives us the necessary entrepreneurial flexibility," said CEO Rainer Beaujean according to the announcement. With the Joyn app, viewers can stream live television, in-house productions and US series. At the beginning of the year, ProSiebenSat.1 switched off the station's own apps and justified this by focusing on a single offer.

The group did not provide any information on the purchase price. The management expects antitrust clearance from October 1st. Joyn is then to be fully consolidated for the first time in the fourth quarter of the current year. CFO Ralf Gierig initially expects the acquisition to have a negative impact.

Charge of 25 million euros

The purchase of Joyn is likely to burden ProSiebenSat.1's operating result (Ebitda) by around EUR 25 million. Instead of an annual target of 805 million euros plus/minus 25 million euros, earnings before interest, taxes, depreciation and amortization (Ebitda) adjusted for special effects should now amount to 780 million euros in 2022 with the same variance. Total revenue for the current year is expected to rise further to almost EUR 4.4 billion with a margin of plus/minus EUR 75 million after the previous year's figure of around EUR 4.3 billion.

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