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Vivendi, News Corp confirm Italian pay-TV merger

Vivendi Universal and News Corp yesterday confirmed that they have reached a deal for the merger of their their respective Italian pay-TV businesses TELE+ and Stream which will create a single operator called TELE+. Italian regulatory authorities have yet to okay the venture, details of which first surfaced in April.As part of the agreement, News Corp will sell to Vivendi Universal 50% of the stake in Stream previously owned by Telecom Italia. As a result of this transaction, ...

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