SBS Broadcasting Announces Shareholder Reorganization at TV2 in Hungary

SBS Broadcasting Announces Shareholder Reorganization at TV2 in Hungary

LUXEMBOURG, Aug. 15 /PRNewswire-FirstCall/ -- SBS Broadcasting SA (Nasdaq: SBTV; Euronext Amsterdam N.V.: SBS) announced today that a Hungarian company (to be named "VT2 Kft."), owned by the chief executive officer of TV2 in Hungary, Gabor Kereszty, and TV2 board member Dr. Gabor Benke, has acquired shares representing a 16% economic and 27.1% voting interest in TV2 (the "TV2 Shares") from MTM Kommunikacios Rt., the Company's original partner in TV2, in a private transaction. The Company also announced that it has entered into an agreement with VT2 Kft. under which it has paid $5.0 million for the right to acquire or assign the TV2 Shares in the future.

Under a May 2002 agreement with its original partner in TV2, the Company was obliged to purchase or assign the TV2 Shares following TV2's renewal of its broadcast license, which occurred in late July 2005. The May 2002 agreement was terminated in connection with these transactions.

The Company currently owns a 49% voting interest and 81.5% economic interest in TV2. Hungarian Media laws prohibit anyone from holding more than 49% of the voting rights in TV2 and require that a Hungarian person or legal entity own at least 26% of the voting rights in TV2. As such, the Company is prohibited from acquiring the TV2 Shares, but may assign the TV2 Shares to another Hungarian partner in the future under the agreement with VT2 Kft.

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/.

Source: SBS Broadcasting SA

CONTACT: Michael Smargiassi or Jon Lesko (investors), both of Brainerd
Communicators, +1-212-986-6667; Jeff Pryor (press), of Pryor Associates,
+1-818-338-3555; or Catriona Cockburn (press), of Citigate Dewe Rogerson,
+44-207-282-2924

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

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