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News Corp and Vivendi grab Italian 'soccer tv' company.
By Jon Newton, p2pnet.net
(more articles from this author)
2002-10-08
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Music Industry News - as it happens
Source: Mi2N - October 4, 2002

News Corporation and Telecom Italia today have signed a "definitive agreement" with Vivendi Universal and Canal+ Group to buy Italy's Telepiù which among other things, has various rights to telecast "certain" future Italian soccer matches.

Worth almost $9.4 million and, "consisting of the assumption of up to €450 million in debt and a cash payment of €470 million for the shares of Telepiù, the buy - subject to regulatory approval - could be completed by the end of the calendar year. Under it, Telepiù would combine with Stream, the Italian pay-TV platform jointly owned by News Corporation and Telecom Italia, and renamed Sky Italia.

News Corporation would hold an 80.1% equity interest in Sky Italia, and Telecom Italia would hold a 19.9% equity interest.

Related News from Mi2N:
» News Corporation And Telecom Italia Agree To Acquire Italian Pay-TV Platform Telepiu


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