Magazine article Screen International

Vivendi Buys Mediaset Premium in Move to Rival Netflix

Magazine article Screen International

Vivendi Buys Mediaset Premium in Move to Rival Netflix

Article excerpt

French media giant Vivendi, which owns a host of major media companies including Studiocanal operator Canal+ Group, has struck a deal with Italian broadcaster Mediaset SpA that includes it taking over the latter's 89% stake in pay-TV unit Mediaset Premium.

Vivendi is also purchasing the remaining 11% of the company from Spanish communications giant Telefonica. Mediaset Premium, which also offers pay-per-view and video on demand, is valued at up to $1.02bn, according to the Wall Street Journal, despite not being profitable.

The deal between Vivendi and Mediaset, which also involves the companies swapping 3.5% stakes and placing a member on each other's boards, comes as Vivendi chairman Vincent Bolloré [pictured] looks to build a European challenger to US streaming giant Netflix, which launched in Italy, Spain and Portugal in autumn, as well as British pay-TV outfit Sky. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.