ProSiebenSat.1Medias shareholders have narrowly voted to reject a plan that would have seen the business split up.
A plan to change the capital structure also failed to receive the necessary 75% support.
ProSiebens management had immediately rejected them, saying they were not in shareholders interests.
ProSiebenSat1 headquarters in Unterfoehring near MunichChristof Stache/AFP via Getty Images
MFE was also successful in adding former Italian Citibank investment banker Leopoldo Attolico and former EY auditor Simone Scettri.
That would have placed networks and other platforms under Joyn.
We are pursuing a clear strategy, said ProSieben group CEO Bert Habets today.
We are focusing on our entertainment expertise.
We are putting Joyn at the center.
We are leveraging the potential of partnerships.
And we are developing new forms of monetization.
We are therefore on the right path to becoming the number 1 entertainment player in the German-speaking region.
