MFE is long-term investor in ProSieben, CEO says

COLOGNO MONZESE, Italy (Reuters) – Italian broadcaster MFE is “a long-term investor” in German rival ProSiebensat, CEO Pier Silvio Berlusconi said, reiterating MFE’s long-held view that traditional TV companies should join forces.

“For now we’re happy with ProSieben to deliver on the results it has promised – going forward we’ll see,” Berlusconi told reporters on Wednesday at an event to present MFE’s TV programmes for the next season.

“We are of the opinion that to grow we need to get together,” he added.

MFE, controlled by the family of former Italian Prime Minister Silvio Berlusconi, has maintained traditional broadcasters should consolidate to survive the threat posed by the sector’s newcomers such as streaming service Netflix.

(Reporting by Elvira Pollina; editing by Valentina Za)