SBS Broadcastng Completes Acquisition of Nordic Premium Pay Television Provider C More Group AB

SBS Broadcastng Completes Acquisition of Nordic Premium Pay Television Provider C More Group AB

- SBS to Operate Canal+ and C More Premium Pay Channels in Nordic Region -

LUXEMBOURG, March 8 /PRNewswire-FirstCall/ -- SBS Broadcasting S.A. (Nasdaq: SBTV; Euronext Amsterdam N.V.: SBS) announced today that it has completed the previously announced acquisition of C More Group AB for Euro 269.6 million in cash. The purchase price includes approximately Euro 20 million in cash in the C More Group at December 31, 2004.

The acquisition was cleared by the Swedish and Norwegian competition authorities last week, allowing the transaction to be completed earlier than initially anticipated.

C More Group is the leading Nordic pay television entertainment provider with over 770,000 subscribers in Sweden, Norway, Finland and Denmark. The only provider of both premium sports and premium movies in the Nordic region under the Canal+ and C More brands, C More Group enjoys market leading positions in Sweden, Norway and Finland. The channels are distributed primarily by direct-to-home satellite (DTH), cable, broadband and increasingly by digital terrestrial transmission (DTT). In 2004, C More Group had revenues of Euro 181 million from channel subscriptions and other sources. C More has had positive net income for the last three years and has no financial debt.

The purchase price was financed in part with Euro 210 million borrowed from ABN Amro Bank under a Euro 300 million six-month unsecured bridge facility with the remainder funded from the Company's cash balances. The Company intends to repay the bridge facility through a syndicated bank loan or by issuing debt securities or both, subject to market conditions.

SBS is a European commercial television and radio broadcasting company with operations in Western and Central Europe. Countries where SBS currently has broadcasting assets include: Belgium (Flanders), Denmark, Finland, Greece, Hungary, The Netherlands, Norway, Romania and Sweden.

For further information visit: http://www.sbsbroadcasting.com/, or contact:

Source: SBS Broadcasting S.A.

CONTACT: Investors - Michael Smargiassi, or Jon Lesko of Brainerd Communicators, +1-212-986-6667; or Press - Jeff Pryor of Pryor Associates, +1-818-338-3555; or Catriona Cockburn of Citigate Dewe Rogerson, +44-207-282-2924, all for SBS Broadcasting S.A.

Web site: http://www.sbsbroadcasting.com/

------- Profile: Ent