Italian media company RTI has approved the transfer of sports media-rights and pay-television operations to a new company, Mediaset Premium Spa, on December 1.
Mediaset Premium Spa will be formed following a deal by Spanish telecommunications operator Telefonica to acquire an 11.1-per-cent stake in the new company. RTI will have the remaining 88.9-per-cent stake.
Mediaset Premium Spa will also focus on content production and distribution across pay-television platforms.
The board of directors will be appointed at a shareholders’ meeting on November 26.