Telecom Italia selling non-core media to Viacom
April 26, 2012
From Branislav Pekic in Rome
Under the proposed restructuring plan of MTV Italia, Telecom Italia Media will this year sell its shares in non-core assets to partner Viacom, including the Italian versions of the Nickelodeon and Comedy Central channels, as well as the MTV satellite music channels on DTH platform Sky Italia.
The news was announced by the CEO of Telecom Italia Media, Giovanni Stella, during the annual meeting of shareholders. He also said that the restructuring process of MTV Italia will continue in 2012, accompanied by an investment plan in content and marketing, with the channel providing more general entertainment programs.
Telecom Italia Media currently has a 51 per cent stake in MTV Italia, with the remaining shares owned by Viacom.