Vivendi to acquire Mediaset's pay TV unit
11 April 2016 |
Vivendi has agreed to acquire the pay TV unit of Italy’s Mediaset in a bid to expand its video-on-demand offerings.
Under the agreement, the French company will take control of Mediaset’s 89% stake in
“The agreement with Mediaset confirms Vivendi’s intention to build strong positions in Southern Europe, a market that shares a similar Latin culture and roots. Mediaset’s significant presence in Italy and Spain, through general entertainment and thematic channels (free and pay), represents an important stepping stone toward achieving this goal,” said Vivendi.
Both parties will jointly develop various initiatives for the production and distribution of audiovisual content as well as to create an OTT TV delivery platform. Last week Mediaset’s subsidiary Studiocanal Vivendi announced that it was making equity investments in various independent production companies in Spain and the UK.