ProSiebenSat.1 Media SE (officially abbreviated as P7S1, formerly ProSiebenSat.1 Media AG) is a German mass media company. It operates commercial television, premium pay channels, radio stations and related print businesses. It was formed on October 2, 2000 by merger of German TV broadcasters ProSieben Media AG (founded on New Year's Day of 1989) and Sat.1 SatellitenFernsehen GmbH (also founded on New Year's Day of 1984, as PKS (Programmgesellschaft für Kabel- und Satellitenrundfunk)). Through takeover of SBS Broadcasting Group on June 27, 2007 it now has operations in 13 European countries.HistoryAfter the KirchMedia GmbH & Co. KGaA became majority shareholder of the ProSieben Media AG at the end of the year 1999, the ProSieben Media AG and the Sat.1 GmbH, which belongs also to the Kirch group published their merger plans at 28 June 2000. In this way the biggest TV channel group (SAT.1, ProSieben, kabel eins and N24) will be created. Since 2 October 2000 the ProSieben Media AG took the interests of the Sat.1 GmbH by the KirchMedia GmbH & Co. KgaA, since 13 October of the same year the stocks of the ProSieben Media AG are renamed to ProSiebenSat.1 Media AG at the Frankfurt Stock Exchange. Urs Rohner, the Chairman of ProSieben became Chairman of the ProSiebenSat1 Media AG. As part of the integration of Sat.1 the ProSieben Television GmbH was also found.Ruin of the Kirch group and takeover by Haim SabanIn 2002 there was nearly a merger with the KirchMedia GmbH, but it failed at the end of insolvency of Kirch group. After that, the stock of ProSiebenSat.1 crashed. In 2003 the AG got P7S1 Holding as new major shareholder, which is a 25-percent subsidiary of the Saban Capital Group by Haim Saban and more investors who got 88 percent of the votes. Saban took the TV channel group over for 500 million Euros. The 12 percent of the rest belonged to Axel Springer AG. Free shareholders got only non-voting preference shares.