Czech Media Invest (CMI), doubled its stake in German television and radio company ProSiebenSat.1 to 10.01 percent from 5.51 percent.
The German company welcomed CMI’s further investment saying it is indicative of the company’s good strategy.
CMI announced its initial investment in ProSiebenSat.1 last October when it bought a stake of about 4.07 percent.
Czech billionaire Daniel Kretinsky owns half of CMI. Co-owners are Patrik Tkac with 40 percent and Roman Korbacka with 10 percent. Last year, Kretinsky and Tkac made an unsuccessful attempt to take over the German trading company Metro through their investment group EP Global Commerce (EPGC).
CMI publishes four dailies and several dozen magazines in the Czech Republic. It also owns radio stations in the Czech Republic and Romania. Since 2018, the CMI Group has also been the owner of several French press magazines and bought a share in the prestigious daily Le Monde.