Murdoch Seeks Investors to Keep Italian Pay-TV Deal Alive

26 June 2002

Rupert Murdoch’s new-found zeal for Italian pay-TV has hit a major stumbling block – few seem to share his enthusiasm.

The media mogul recently forged a deal with Vivendi Universal to buy the latter’s Telepiu unit and merge it with rival pay-TV firm Stream, co-owned by News Corporation with Telecom Italia.

NewsCorp wants the telecoms firm to play a part in the deal. However, TI is said to regard the €1.5 billion ($1.46bn; £0.97bn) price tag as too rich for its liking, forcing Murdoch to look elsewhere for partners.

Data sourced from: The Times (London); additional content by WARC staff