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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.

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Telecom Italia Media sells MTV Italia

2013-07-04 02:00:00| Total Telecom industry news

Sale of music channel to Viacom expected to close by end of September.

Tags: media italia telecom mtv

Telecom Italia sells La7 to Cairo for EUR 1 million

2013-03-05 09:01:00| Telecompaper Headlines

(Telecompaper) Telecom Italia Media has agreed to sell Italian national broadcaster La7 to Cairo Communications for EUR 1 million. Before the transfer of the shareholding, La7 will undergo a capital increase that will leave it with a net positive financial position not higher than EUR 88 million. The recapitalisation will also bring the broadcaster's shareholders equity up to the agreed level of EUR 138 million. As part of the deal, Telecom Italia agreed to waive EUR 100 million in loans owed by Telecom Italia Media to the parent company. Telecom Italia Media will continue to own a 51 percent stake in MTV Italia as well as its DTT broadcast operations.

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Telecom Italia Media sells La7 channel for 1 million euros

2013-03-05 05:10:42| Telecom - Topix.net

Telecom Italia Media said on Monday it would pump money into its cash-burning La7 channel before offloading it to media firm Cairo Communication for a token price.

Tags: media million italia channel