TIM to have 80% control of Canal Plus joint venture - report

News Video Italy 8 SEP 2017
TIM to have 80% control of Canal Plus joint venture - report

Telecom Italia (TIM) will have 80 percent of the capital of the planned broadcasting joint venture with Vivendi’s pay-TV channel Canal Plus, according to a term sheet defining the partners’ roles seen by Corriere della Sera. Initial investments are expected to be in the region of EUR 100 million, with TIM contributing EUR 80 million and Canal Plus the remaining EUR 20 million. TIM will have the right to appoint the company’s CEO, general manager and financial director, with Canal Plus set to name the content manager, said the report, adding that the name ‘Canale+’ has been mooted for the unit.

Vivendi CEO and TIM chairman Arnaud de Puyfontaine recently confirmed the existence of plans to set up a new entity controlled by Canal+ and TIM to acquire audiovisual rights and produce films and TV series. Another recent report suggested Mediaset could become the third partner in the southern European joint venture by providing its Premium pay-TV unit. 

Categories:

Video

Companies:

TIM,  Telecom Italia,  Mediaset,  Vivendi,  Canal+

Countries:

Italy

Tags:

Production planning & operations, Shareholders & subsidiaries, Broadcast

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