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Italy's Serie A in exclusive talks with CVC consortium on new media unit - report

Friday 16 October 2020 | 11:03 CET | News
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Italy’s top-tier Serie A football league is set to enter into exclusive discussions with a private equity fund consortium led by CVC for the sale of a stake in the league’s media business, according to unnamed sources cited by Reuters. CVC has joined forces with Advent and Italian state-backed fund FSI to offer up to EUR 1.6 billion for a 10 percent stake in Serie A’s newly created media unit, said the sources.

Under a plan promoted by Serie A’s president Paolo Dal Pino under the name ‘Project Goal’, the league is looking to bring in private investors to help it develop its broadcast business. The aim is to obtain fresh sources of income to ride out the effects of the pandemic on the income of Serie A clubs, said the report, adding that the CVC-led group has been granted a four-week exclusive negotiating period.


 



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Categories: Broadcast & Satellite
Countries: Italy
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