Mediaset close to acquiring Cine Sony - report (translated)
04 MAY 2019
Mediaset [BIT:MS], the Italian TV broadcaster, is close to acquiring Cine Sony, a free-to-air TV channel being sold off by Sony Pictures Entertainment, the Italian-language daily Il Sole 24 Ore reported. The unsourced report said that Mediaset is also set to acquire Pop, a free-to-air children's channel also being sold off by Sony Pictures.
The report said that Pop will be acquired via a joint venture with Turner Broadcasting System.Both channels broadcast in Italy.
The deal will go through once a few final details are worked out. The item said that exclusive talks on the matter started in February.
Closing is expected in the summer following regulatory approval, the item said.
The report gave no financials but the item said that Mediaset is hoping reap the benefit of advertising revenues.
Sony Pictures is part of the Sony [TYO: 6758] group, the report said.