Deals
German TV Giant Wants to Buy Online Retailers Abroad
- Broadcaster wants to grow its NuCom e-commerce unit abroad
- New investor General Atlantic to aid expansion course
Photographer: Krisztian Bocsi/Bloomberg
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Germany’s ProSiebenSat.1 Media SE wants to grow the $2.2 billion e-commerce business it runs with General Atlantic LLC through international acquisitions, targeting online startups in industries including dating and beauty amid sluggish growth in traditional TV.
The broadcaster has used advertising on its channels to boost holdings including online dating company Parship Elite Group and price comparison site Verivox, turning them into successful brands in Germany. But TV ads can do only so much before a foreign push is needed to unlock more growth, said Claas van Delden, the co-chief executive officer of NuCom Group, ProSiebenSat.1’s e-commerce holding company.