Mediaset rejects latest opportunity to acquire Euro 2016 rights

Broadcast coverage of the Uefa Euro 2016 national team football tournament in Spain remains in limbo after commercial broadcaster Mediaset rejected the opportunity to acquire the rights during its latest meeting with the CAA Eleven agency.

According to various reports in Spain, Mediaset said that acquiring the rights at the figure quoted by CAA Eleven would “seriously damage the profitability of the company,” with the Europa Press agency saying that the deal would generate a loss of €15m ($17m) for the broadcaster.

Spain remains the only major European market without a rights deal in place for this summer’s tournament in France. Spain’s national team has won the previous two editions of the competition.

An initial offer from Mediaset, which showed coverage of Euro 2012, as well as offers from other media companies were rejected by CAA Eleven late last year, according to reports.

Mediaset said that it is “not willing to damage the bottom line of its results by reducing net profit".