Telecom Italia’s broadcasting unit Telecom Italia Media (TI Media) could transfer its two loss-making TV channels, La7 and MTV, to a new company from September, according to WSJ. The media company would be left with its valuable frequency licences by selling the two broadcasters. The licences could then be used to deliver completely new content or pay TV. This move would also make it easier for Telecom Italia to sell TI Media.
Telecom Italia wants to sell its controlling stake in TI Media so it can pay off part of its debt and focus on its core activities. Last week, Telecom Italia received 15 preliminary expressions of interest for its Telecom Italia Media unit. Interested parties include pay-television provider Sky Italia, Al-Jazeera and The Discovery Channel.