ProSiebenSat.1 Media (ETR:PSM) used its annual general meeting to outline a sharper focus on entertainment, tighter financial discipline and continued cost reductions following a year marked by weak advertising markets, portfolio disposals and a change in control after MFE became majority shareholder.
Maria Kyriacou, chairwoman of the Supervisory Board, told shareholders the past 12 months had been difficult amid a challenging economic environment in the DACH region and global volatility. She said the company had “stayed the course” by concentrating on its core entertainment business, divesting non-core assets and initiating a major efficiency and savings program.
