German broadcaster ProSiebenSat.1 is seeking closer ties with domestic media groups to help defend the German media ecosystem against U.S. technology and streaming giants, Chief Executive Marco Giordani said on Thursday.

Partnerships and Consolidation

ProSiebenSat.1 said in July that it had partnered with public broadcaster ZDF to integrate its on-demand content into the group’s Joyn streaming platform, allowing viewers to access ZDF programmes without leaving the platform. The company reported second-quarter core profit above expectations on Thursday as cost cuts offset a sharp decline in revenue.

The strategy is in line with efforts by ProSiebenSat.1’s Italian owner MFE to build a pan-European media business to compete more effectively with international streaming and advertising groups. Broadcasters across Europe are pursuing partnerships and consolidation to build scale against global rivals.

Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.