European pay TV giant Mediaset has begun exploring how if it is able to consolidate and develop its operations in Italy and Spain into a single entity.
The boards of Mediaset in Italy and Telecinco owner Mediaset España have given permission for an evaluation into a consolidation plan. They are looking at launching a new base company that would house 100% of Italian pay TV unit Mediaset Premium with the firm’s 22% stake in Spanish operator Digital Plus, which is majority owned by Prisa.
“The evaluation 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 newco,” Mediaset said in a statement, though no further details were forthcoming.
Mediaset, which former Italian prime minister Silvio Berlusconi controls, has been rocked by falls in television advertising and the growth of 21st Century Fox-owned pay TV platform Sky Italia.