Mediaset to spin off Premium pay-TV business on 01 Dec

News Video Italy 14 NOV 2014
Mediaset to spin off Premium pay-TV business on 01 Dec

Italian broadcaster Mediaset has announced that it will spin off its pay-TV business Mediaset Premium on 01 December. The company will have 267 employees and will remain under the direction of Franco Ricci, who has been appointed Mediaset Premium CEO. Mediaset also confirmed that Telefonica’s acquisition of an 11.1 percent stake in the new company will be formalised in December. Telefonica acquired the stake in Mediaset Premium for EUR 100 million in July, shortly after completing its acquisition of Mediaset’s 22 percent stake in Spanish pay-TV platform Digital+ for an initial EUR 295 million.

The remaining 88.9 percent stake in Premium will remain in Mediaset’s hands but the company said it was “ready to consider the possible entry of major industrial partners to strengthen the technological and international dimension of the new venture.” Earlier in the week, Mediaset CFO Marco Giordani said the group was in talks with third party investors for possible commercial deals, without naming any companies. Back in July Mediaset deputy chairman Pier Silvio Berlusconi confirmed that Mediaset was in talks with companies including Vivendi and Al Jazeera on partnerships in its pay-TV business.

Categories:

Video

Companies:

Mediaset,  Telefonica

Countries:

Italy

Tags:

Production planning & operations, Broadcast, M&A buyouts & divestments

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