Saban Acquires ProSiebenSat.1

U.S. billionaire Haim Saban's deal to buy ProSiebenSat.1 from KirchMedia is complete. Saban and his financial partners now possess 72 percent of the voting rights and 36 percent of the principal of Germany's largest TV group, KirchMedia confirmed on Tuesday. Industry observers estimate that Saban will pump €280 million ($316 million) into the group by spring 2004.