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Spain blocks sale of DTT stake to Viacom - report

Wednesday 2 August 2017 | 11:24 CET | News
Spain's Energy, Tourism and Digital Ministry has blocked the sale of a 25 percent stake in DTT company Net TV to US media giant Viacom, reports local daily El Espanol. Although Viacom had agreed a deal to acquire the stake from Net TV owner Vocento, the government has vetoed the transaction because it exceeds the 20 percent limit for international ownership of DTT licences and breaches the principle of reciprocity of investments with the US. Viacom has been renting a DTT licence from Vocento to air The Paramount Channel since 2012 at a cost of around EUR 2 million a year.

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Categories: Broadcast & Satellite
Companies: Paramount / Viacom
Countries: Spain
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