The French media group Vivendi and content announced Friday, April 8, a “strategic agreement” with the Italian Mediaset, owned by tycoon Silvio Berlusconi, through an exchange of cross shareholdings 3.5%. As part of the agreement, Vivendi, led by Breton businessman Vincent Bolloré, also gets the 100% control of Mediaset Premium pay-TV platform, said a statement.
The two groups want to develop “an industrial partnership internationally oriented” in the production and distribution of programs and consider “the creation of a global platform for internet TV in ‘over the top’ (OTT)”, which would create a European rival to US Netflix.
This agreement between Vivendi’s strategy “to build a strong development focus in South East Europe”, thanks to the significant presence of Mediaset in Italy and Spain, does precisely -he.
by putting the hand on the subsidiary of pay TV, Mediaset Premium, an activity similar to its subsidiary Canal +, Vivendi expands its subscriber base to over 13 million, “in an Italian market offering significant growth prospects, “he said.
Mediaset Premium was previously owned 89% by Mediaset and 11% by the Spanish group Telefonica.
Vivendi has not detailed financial terms of the transaction.
While Vivendi has a market capitalization of 25 billion euros and Mediaset from just over 4 billion, the transaction would value Mediaset Premium, which has in particular the rights of the Champions League football until 2018, reaching 800 million euros.
in addition to Mediaset Premium, Mediaset also controls three television Free and herztiennes Italy (Canale 5, Rete 4 and Italia 1).
(with AFP)
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