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Telecom Italia sells MTV Italia stake to Viacom

Thursday 4 July 2013 | 11:02 CET | News
Telecom Italia Media announced an agreement to sell its 51 percent stake in MTV Italia to Viacom International Media Networks, giving the US company full control of the Italian music channel. Telecom Italia will receive EUR 10 million for its stake and agreed to waive a EUR 9.7 million loan to MTV Italia. The parties also agreed to a multi-year renewal of a contract with Telecom Italia Media's broadcasting services arm for transmission capacity and services. Subject to regulatory approval, the deal is expected to close by the end of September. The sale follows TI Media's earlier divestment of

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Categories: Broadcast & Satellite
Companies: MTV / Telecom Italia / Telecom Italia Media / Viacom
Countries: Italy
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