The story
SBS was founded by Harry E. Sloan in 1989, who bought a stake in the Danish station Kanal 2 (a local station in Copenhagen, now Kanal 4) and Norwegian TVNorge. In 1991, Sloan bought the Swedish Nordic Channel, which was soon renamed Kanal 5 and became the third-largest commercial broadcaster in the country. The company was originally known as "TV1", but was renamed "Scandinavian Broadcasting Systems" in 1991. After expanding into Benelux and Eastern Europe, the name was changed again, this time to SBS. By July 1994, the time of the CC/ABC-Disney merger, Capital Cities/ABC owned 23% of SBS.
In March 2005, SBS acquired C More Entertainment, a Nordic pay tv provider operating under the Canal+ brand. In that year, SBS was bought by the equity firms Permira and Kohlberg Kravis Roberts (KKR). Telegraaf Media Groep of the Netherlands was also a shareholder in SBS, with a 20% equity interest. Permira and KKR also bought the German broadcaster ProSiebenSat.1 Media in early 2007, and on 27 June 2007 it was announced that ProSiebenSat.1 Media acquired the SBS Broadcasting group for 3.3 billion euros from the joint owners. ProSiebenSat.1 Media became the second-largest broadcaster of Europe with 48 TV stations.
Starting in 2011, ProSiebenSat.1 Media started to sell its non-German properties. The Dutch operations have been bought by Sanoma and Talpa Media Holding on 20 April 2011. In the end of 2011 ProSiebenSat.1 Group has sold its Bulgarian radio stations as well as the music channel the Voice TV to A.E. Best Success Services Bulgaria EOOD. The transaction was closed on 10 November 2011. On 14 December 2012, Discovery Communications bought the Nordic portion of SBS for $1.7 billion. The radio stations were later sold to Bauer Media Group. The Romanian TV and radio operations were bought by Romanian businessman Cristian Burci and Antenna Group in 2013.
From Wikipedia’s article on SBS Broadcasting Group, shared under CC BY-SA 4.0.4