Italian broadcaster Mediaset is planning to accelerate the sale of its pay-TV operations to rival Sky Italia.
According to a report in daily Il Sole 24 Ore, in line with the agreement reached between the two parties in March, the ‘put option’ should be exercised in the month of November, but Mediaset is aiming to close earlier.
The deal foresees not the sale of the Premium platform but rather the technological infrastructure, including employees, contract with NAGRA, billing, customer care and marketing. Premium will continue to supply the pay-TV channels that have been added to Sky Italia’s offer in recent months.
For its part, Mediaset will concentrate its activities in the free-to-air business on DTT and is set to earn €60-70 million from the deal with Sky Italia.
After the closing, Italy’s Antitrust Authority (AGCM) has 30 days to give its go-ahead with or without conditions, or open a second phase that could last up to 45 days. A non-binding opinion of Italy’s Communications Authority (AgCom) is also expected in 30 days.
Meanwhile, the Radiocor agency reported that the legal proceedings in the case between Mediaset and Vivendi regarding the failed sale of Premium has been postponed. Instead of October 23rd, the case has now been moved to the beginning of December due to a change of the judge.