Home › Telecom Italia sells MTV Italia stake to Viacom
 

Keywords :   


Telecom Italia sells MTV Italia stake to Viacom

2013-07-04 11:02:00| Telecompaper Headlines

(Telecompaper) 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 the La7 TV channel, as part of efforts to reduce its debt and improve profitability. After disposing of the MTV stake, its only remaining activity is Telecom Italia Media Broadcasting, a DTT broadcast services provider.

Tags: italia telecom mtv sells

Category:Telecommunications

Latest from this category

All news
»
06.10Hurricane Leslie Graphics
06.10Hurricane Kirk Graphics
06.10Hurricane Leslie Forecast Discussion Number 15
06.10Hurricane Leslie Wind Speed Probabilities Number 15
06.10Hurricane Leslie Public Advisory Number 15
06.10Summary for Hurricane Leslie (AT3/AL132024)
06.10Hurricane Leslie Forecast Advisory Number 15
06.10Hurricane Kirk Forecast Discussion Number 27
More »