Shareholders in Mediaset España have approved the integration of the company into Berlusconi’s Media for Europe (MFE), with the move to be completed within a month.

The president of Mediaset Spain, Borja Prado, supported the merger as the “most appropiate way” for the company’s expansion and for head-to-head competition against global giants such as Netflix, HBO and Amazon Prime.

Berlusconi already had a 82.9 per cent stake in the Spanish company through a stock market bid but was unable to achieve a merger as he needed to have a 90 per cent stake. Now, MFE has a sufficient majority to complete the exercise and, along with the integration in Germany and Italy, plans to reach 100 million viewers.

Mediaset Spain was launched in 1990 and in 23 years it has managed to earn €3.7 billion. It has become a TV giant operating seven channels, among them Tele 5 and Cuatro.

Categories: Articles, Broadcast, Business, FTA