Italian media company Mediaset is closing in on a deal to sell its pay-television division, Mediaset Premium, to French media company Vivendi, according to the Reuters news agency.
Mediaset chief executive Pier Silvio Berlusconi and Vivendi chairman Vincent Bollore are leading the talks.
Berlusconi is “determined to sell and a deal could be signed shortly,” a source close to the negotiations told the news agency.
Vivendi is seeking to buy Mediaset's 89-per-cent stake in the unit. Vivendi would reportedly pay half in cash and half in shares for the major sports broadcaster, which shows coverage of Italy’s top football division, Serie A. The remaining 11-per-cent stake is held by Spanish telecommunications company Telefónica.
Another source said that the two entities could form a European joint venture over content to rival Sky.