German TV Bigwig ProSiebenSat1 Said To Buy Lokalisten
Lokalisten, a popular German social network, has reportedly been purchased by the German television company, ProSiebenSat1 Media AG.
ProSiebenSat1 had already picked up 30% ownership of the network in October of 2006. According to Netzwertig, a German technology blog, whose editor alerted us to the news, they have now purchased the remaining 70%. The price for the outstanding shares was a reported €25 million ($39,388,749 USD), which seems to be a decent value to give the remaining shares, as the network boasts over 2 million members, with the heaviest concentration being in and around the city of Munich.
ProSiebenSat1 is the second-largest TV network in Germany, owning several stations.
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