The media company has sold ad-for-equity stakes in 16 portfolio companies to private equity firm Lexington Partners for about $57m.
Germany-based media group ProSiebenSat.1 divested a significant part of its media-for-equity portfolio to US-based private equity firm Lexington Partners yesterday for a mid-eight digit euro figure (€50m = $57m).
ProSiebenSat.1, which operates a corporate venturing unit called SevenVentures, makes financial investments in startups and also participates in media-for-equity deals that involve it acquiring stakes in companies in return for providing advertising.
The deal will include minority stakes in up to 16 companies that are held by ProSiebenSat.1 subsidiaries including SevenVentures,…
