Bid target ProSieben extends CFO contract until 2029

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German broadcaster ProSiebenSat.1, which is set to be taken over by MFE-MediaForEurope MIL:MFEA, said on Monday that it has extended Chief Financial Officer Martin Mildner’s contract until 2029.A person familiar with the matter told Reuters MFE-MediaForEurope MIL:MFEA, controlled by Italy's Berlusconi family, was against extending Mildner's contract. A spokesperson for MFE declined to comment. MFE is set to take a majority stake in ProSiebenSat.1 after the group's second-largest investor said it would tender its stake to MFE as part of a cash-and-share bid valuing the German group at 1.8 billion euros. The offer ended on Monday, with final results due on September 4."I am very much looking forward to continuing our close and trusting cooperation together with Martin," ProSieben CEO Bert Habets said in a statement.MFE CEO Pier Silvio Berlusconi is due to meet Germany's culture minister Wolfram Weimer on Tuesday in Berlin, after Weimer expressed concerns over MFE taking over the group.

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