Germany's ProSiebenSat.1 Media SE, Italian broadcaster Mediaset SpA and France's TF1 Group agreed to form the European Broadcaster Exchange, a joint venture aimed at providing a trading platform for digital video advertising campaigns across Europe.

EBX will seek to help customers in buying advertising slots for programmatic video campaigns online, ProSiebenSat.1 said June 9. The venture will employ an open model that allows other European media companies to make their ad inventories available via the EBX platform.

ProSiebenSat.1, Mediaset and TF1 will hold equal shares in EBX, which will have its offices in London. The company will have its own sales team shortly.

The joint venture deal, financial details of which were not disclosed, still needs to be approved by European competition regulators.

TF1 and Mediaset have an existing business partnership with ProSiebenSat.1 via the latter's European Media Alliance. In January, the three companies formed a strategic alliance on multichannel networks, with TF1 and Mediaset taking stakes in ProSiebenSat.1-owned MCN Studio 71.