MFE-MediaForEurope N.V., listed in Milan and Madrid, is controlled by the Berlusconi family through their holding company Fininvest. The company, led by Pier Silvio Berlusconi, is pursuing the deal as part of a broader strategy to consolidate European broadcasting assets and build a unified cross-border media powerhouse.

German media company ProSiebenSat.1 recommended on Wednesday that its shareholders accept an amended offer from MFE-MediaForEurope for a public takeover after rival bidder Czech investment firm PPF underscored its nominally lower offer.

ProSiebenSat.1 Media SE’s executive and supervisory boards recommended that shareholders accept MFE-MediaForEurope NV’s amended takeover offer, calling the new terms “adequate” and a sign of MFE’s long-term commitment,