Italy: La 7 up for sale
June 28, 2011
By Chris Forrester
Telecom Italia says that merchant bank Mediobanca is looking for buyers of TV network La 7. La 7 is Italy’s third-largest network after RAI and Mediaset, but has been losing money for years. The channel is 77 per cent owned by Telecom Italia.
However, the network continues to invest and has a 3.5 per cent market share. The general plan is reportedly to further invest in news – where La 7 has a good reputation – and current affairs programming.
La 7 also owns a 51 per cent stake in MTV Italia, and Viacom is seen as the probable buyer of this stake.
One strongly-tipped potential buyer is News Corp, perhaps using Sky Italia as the acquisition vehicle and giving Rupert Murdoch a terrestrial voice.