NewsCorp Nears Deal with Vivendi for Italian Pay-TV Firm

07 June 2002

Rupert Murdoch’s NewsCorp is said to be nearing a done deal to buy Italian pay-TV operator Telepiu from Vivendi Universal, with a memorandum of understanding expected to be signed this week.

Telepiu will probably be merged with Stream, the Italian pay-TV firm jointly owned by NewsCorp and Telecom Italia. But it is still unclear how eager (or reluctant) the telecoms firm is to accede to NewCorp’s urging to participate in the Telepiu deal.

Until last week, Murdoch was in the process of selling Stream to Vivendi, but decided to reverse the deal when Vivendi reneged on the purchase [WAMN: 30-May-02].

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