"PPF believes the digital transformation of ProSieben will create value for all shareholders," the privately owned Czech company said in a statement. With a 9.1% stake, it is the second largest investor in the German broadcaster after Italy's MFE-MediaforEurope.
PPF is an active investor in the telecommunications, media, and technology sectors. The group also owns Central European Media Enterprises (CME), which operates several television and online media companies in Central and South-Eastern Europe, including TV Nova in the Czech Republic and TV Markíza in Slovakia.
The Czech investment group is now controlled by Renáta Kellnerová, the widow of founder Petr Kellner.
"We are pleased that Mrs Kellnerova sees ProSiebenSat.1 as an attractive investment and has placed her trust in our company," the German broadcaster said. According to the statement, initial contacts with PPF have been very positive.
ProSieben operates TV channels in Germany, Austria and Switzerland, including ProSieben, Sat.1, Kabel Eins and ATV. Other businesses include dating websites, sports websites and production companies SevenPictures and Seven.One.