ProSiebenSat1 Takes Stake in Social Networking Site; Starts Using User-Gen Ads For LG

We missed this one earlier last month, but is significant for ProSiebenSat.1 Media, Germany’s largest commercial TV broadcaster: it has taken a stake in, an invitation-only social networking site targeted at the youth market, reports AlarmClock. There was no disclosure on the amount paid for the 30 stake acquired….the site was seed funded by European Founders Fund and launched in May.
This follows ProSieben’s recent deal to buy a 30 percent stake in, a German video sharing site.
Also, in related news, ProSiebenSat.1 and Korea’s LG Electronics plan to start their first online ad campaign using videos made by online customers…a contest for the best black-and-white advertising video for LG’s Chocolate White phone made by a user of Web community MyVideo.


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