Diller to buy into Italo home shopping network

HSN to join ReteMia, bill may limit shopping to digital satcasters

MILAN — Barry Diller’s TV group Home Shopping Network will soon enter Italy’s teleshopping industry by buying a stake in national network ReteMia, Italian daily paper Il Sole 24 Ore said Thursday, reporting anonymous sources close to the U.S. company.

According to the daily, Diller will create a joint venture with Luxembourg based TV company Scandinavian Broadcasting System (SBS), which acquired 10.1% of ReteMia in 1997, with an option to buy the remaining 90% in the next two years. The whole capital of ReteMia has been assessed at $70 million.

According to the report, the deal mainly depends on legal questions. The new TV reform bill in the Italian Parliament, if approved, might limit teleshopping channels to digital satellite broadcasting, a sector still very underdeveloped.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety