News Corp,Telecom Italia to acquire Telepiu

NEW YORK, PARIS: News Corporation and Telecom Italia have signed a definitive agreement with Vivendi Universal and the Canal+ Group to acquire Telepiu, the Italian pay-TV business.

The transaction consideration at signing is 920 million, consisting of the assumption of up to 450 million in debt and a cash payment of 470 million for the shares of Telepiu. This cash payment will be adjusted downward by the amount of outstanding accounts payable at closing. As of today, the accounts payable stand at approximately 200 million. It is anticipated that at closing, total consideration before the accounts payable adjustment will be 893 million, reflecting continuing debt reduction at Telepiu between the signing of today's agreement and the anticipated closing.

The acquisition, which is subject to regulatory approval, is expected to be completed by the end of the calendar year, whereupon Telepiu will be combined with Stream, the Italian pay-TV platform jointly owned by News Corporation and Telecom Italia, and renamed Sky Italia. News Corporation will hold an 80.1 per cent equity interest in Sky Italia, and Telecom Italia will hold a 19.9 percent equity interest.

The acquisition consideration includes the various rights to telecast certain future Italian soccer matches, which have previously been paid for by Telepiu, as well as the rights to two terrestrial television licenses. The combined platform will be required to sell the terrestrial television station licenses. As part of the acquisition agreement, all litigation between the parties, including Streams litigation against Telepiu and Canal+s litigation against NDS, will be suspended immediately and permanently withdrawn when the transaction closes.

J.P. Morgan and Mediobanca have acted as financial advisers to News Corporation in connection with this transaction. Lehman Brothers have acted as financial advisers to Vivendi Universal.

Latest Reads
Republic TV to track real-time data for Gujarat elections

MUMBAI: Republic TV has partnered data-science company Gramener to track real-time data, along with analysis, during the Gujarat elections. According to a release sent by Republic TV, “Gramener will help enhance the visual look both on-air and on Republic’s digital platforms to present the data in...

Television TV Channels News Broadcasting
Nakul Chopra is new BARC chairman

MUMBAI: Nakul Chopra, currently president of Advertising Agencies Association of India (AAAI) and senior advisor of Publicis Communications, has been elected as the next chairman of BARC India. Chopra succeeds Viacom18 group CEO Sudhanshu Vats, who has completed his one-year tenure as chairman.

Television TV Channels Viewership
Nitin Kukreja joins iQuest

Former Star India sports head Nitin Kukreja has joined iQuest Enterprises as its chief executive officer. Kukreja had left Star in March this year. IQuest is an enterprise of Nimmagadda Prasad, the former owner of the Maa TV group, who has multiple business interests ranging from infrastructure to...

Television TV Channels Sports
Sun TV's unassailable lead continues, while Zee TV leads Hindi across genre

BENGALURU: The Sun network's flagship Tamil general entertainment channel (GEC) Sun TV continued its lead in ratings across all GECs on Indian television for week 48 of 2017 (25 November to 1 December 2017) according to Broadcast Audience Research Council (BARC) weekly ratings data

Television TV Channels GECs
Republic TV, BTVI join hands for budget coverage

MUMBAI: Republic TV, spearheaded by Arnab Goswami, and Business Television India (BTVI) have entered into an alliance for content and programming around Union Budget 2018. The Republic TV- BTVI alliance promises to offer viewers a distinctive experience.

Television TV Channels News Broadcasting
Mairu Gupta and the art of building the NBA in India

MUMBAI: For basketball fans worldwide, the US National Basketball Association (NBA) represents the mecca of the sport. But in India, the NBA has had its task cut out, what with cricket presenting a near impenetrable line of defence.

Television TV Channels Sports
CNN-News18 'Indian of the year' 2017 special Telecast on 9 and 10 December

MUMBAI: The awards night of the annual and flagship initiative of CNN-News18, ‘Indian of the Year – 2017’ will be telecasted on the 9 and 10 of December at 9:30 PM on the channel. The initiative, whichrecognizes and awards the exceptional contribution and achievements of the iconic Indian citizens...

Television TV Channels News Broadcasting
Music channels bet on shows to boost viewership

MUMBAI: Seems like music channels are playing second fiddle to online music platforms when it comes to playing tracks. In an attempt to grab more eyeballs, pure-play music channels on television are moving away from the music content and focusing more on the youth-centric shows.

Television TV Channels Music and Youth
Zee TV leads Hindi GECs in week 48 of Barc ratings

MUMBAI: Zee TV emerged as the leader among Hindi general entertainment channels (urban + rural) dethroning Zee Anmol, according to Broadcast Audience Research Council’s (BARC) all-India data for week 48.

Television TV Channels GECs

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories