BUZZ-European media: Citi cuts stocks including Pro7, Schibsted

** Citi cuts ProSiebenSat.1, Schibsted (Other OTC: SBSNF - news) and Wolters Kluwer (Other OTC: WOLTF - news) to "sell" from "neutral", lowers WPP (LSE: WPP.L - news) , SES and Reed Elsevier (Amsterdam: REN.AS - news) to "neutral" from "buy". ** Says its top media picks are TF1 (Paris: FR0000054900 - news) , JCDecaux (Paris: FR0000077919 - news) , UBM (LSE: UBM.L - news) , Pearson (Xetra: 858266 - news) and Sky (Other OTC: BSYBF - news) . Key "sells" are ProSiebenSat.1, Rightmove , Schibsted, Informa (Other OTC: IFJPY - news) and Wolters Kluwer. ** Credit Suisse (NYSE: CS - news) also cuts ProSieben, to "neutral" from "outperform", citing recent share price gains and an expected lack of short-term catalysts for ad revenues. ** Says 1.6 pct points of ProSieben's 3.1 pct points audience share gain since Jan. 13 is from new smaller, niche channels with less than 1 pct audience share, whose advertising inventory sells at a discount. ** ProSieben shares are down 2.1 pct pre-market at brokerage Lang & Schwarz. (RM (LSE: RM.L - news) : maria.sheahan.thomsonreuters.com@reuters.net)