French media giant Vivendi is close to acquiring a majority stake in the Mediaset Premium pay-TV unit of Italian broadcaster Mediaset, according to unnamed sources cited by Reuters. Vivendi is looking to buy Mediaset's entire 89 percent stake in the unit, for which it would pay half in cash and half in shares, said one of the sources, adding that the talks are being led directly by Mediaset CEO Pier Silvio Berlusconi. "Pier Silvio is determined to sell and a deal could be signed shortly," said the source. The remaining 11 percent in Mediaset Premium is held by Telefonica, which acquired it in 2014 for EUR 100 million.
Another of the sources cited in the report suggests Vivendi and Mediaset are looking to create a European content production and delivery joint venture that would rival Sky. Mediaset Premium recently reached the milestone of 2 million subscribers, boosted above all by its exclusive coverage of European Champions League football, for which it paid out a record EUR 630 million over three seasons.
