German media group ProSiebenSat.1 has sold its media-for-equity investment portfolio to U.S. private equity firm Lexington Partners for around 50 million euros ($57 million).
ProSiebenSat.1’s media-for-equity portfolio was created in 2009 and operates as a venture capital firm. It gives advertising space on its television channels and digital platforms to start-up firms in return for a stake in equity or future revenue streams.
“Sales proceeds amount to a mid-double-digit million euro figure,” ProSieben said in a statement on Wednesday.,
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