BRIEF-Notorious Pictures buys two films at the Cannes Film Festival
* SAYS ACQUIRED FILMS ARE “RICHARD SAYS GOODBYE” AND “THE FULL HOUSE" Source text for Eikon: Further company coverage: (Gdynia Newsroom)
FRANKFURT Jan 12 Italy's Mediaset and France's TF1 will take a stake in ProSieben's multi-channel network Studio71 via a capital increase that values the unit at 400 million euros ($425 million), ProSieben said on Thursday.
As part of the investment, Mediaset and TF1 will hold 5.5 percent and 6.1 percent, respectively, in Studio71, which has about 6 billion monthly views, the German broadcaster said, adding it would keep a stake of about 70 percent.
Under the deal, ProSieben will take a minority stake in Finder Studios, which was co-founded by TF1, it said, adding it has set up a joint venture with Mediaset to roll out the Studio71 business model in Italy.
"The partnership with TF1 Group and Mediaset gives us access to key European markets where the online video market is just now really picking up momentum and promising significant potential," Christof Wahl, ProSieben's chief operating officer, said in a statement. ($1 = 0.9404 euros) (Reporting by Christoph Steitz; Editing by Harro ten Wolde)
* Some BA short-haul flights cancelled from Heathrow on Monday
* Co has applied to stock exchange for resumption of trading in its shares on stock exchange with effect from may 31, 2017.