Italian broadcaster Mediaset has confirmed that its pay-TV business has attracted expressions of interest from several foreign companies.
It said on Saturday that Mediaset Premium had been approached about “a possible partnership”, two days after…
Italian broadcaster Mediaset has confirmed that its pay-TV business has attracted expressions of interest from several foreign companies.
It said on Saturday that Mediaset Premium had been approached about “a possible partnership”, two days after denying press speculation that a deal had been reached with Qatari media group Al Jazeera and French DTH firm Canal+.
The group also criticised recently reported valuations for the asset as groundless because it does not break down the unit in its financial results, after Italian investment bank Mediobanca said it was worth around €300m (US$416m).
Mediaset has meanwhile been considering integrating its pay-TV activities since December, potentially combining Premium with its 22% stake in Spanish DTH provider Canal+, a separate entity to its French peer.
It said late last year that the review will examine “international development potential, possible synergies, the expansion of over-the-top services, as well as the eventual involvement of industrial and/or financial partners” in the new standalone group.
But Mediobanca reportedly warned that the complicated ownership of Canal+, which is controlled by Spanish media conglomerate Prisa but also sees local telecoms giant Telefonica as a 22% stakeholder, will make it difficult to forge an alliance with partners.
The Italian media group recently declined to exercise a call option to take over Canal+. But despite also passing on that option, Telefonica is still thought to be considering an US$800m acquisition of the satellite broadcaster.
Mediaset, which is controlled by former Italian prime minister Silvio Berlusconi, is also likely set for an expensive battle to buy upcoming Italian football rights.
It raised around €284m (US$389m) earlier this month from selling a 25% stake in Italian towerco and satellite uplink provider EI Towers. Mediobanca was sole bookrunner on the accelerated bookbuild to sell around seven million shares.
