Climate uncertain at feevee company
MILAN — Giovanni Minoli, a 27-year veteran of pubcaster RAI, soon will be appointed as general director of Stream, the digital pay TV platform controlled by Rupert Murdoch, Italy’s telco giant Telecom Italia and Vittorio Cecchi Gori, daily Il Corriere della Sera reported Wednesday, quoting reliable sources.
Minoli, 54, a 27-year veteran of Italian pubcaster RAI, was forced to resign abruptly in August because of repeated head-buttings with the network’s board.
According to the report, Stream also decided to delay an $800 million international loan, organized by Chase Manhattan Bank, because the top managers had different views about this operation.
The pay TV operator is facing many problems. With just over 300,000 subscribers, Stream is still far from breaking even financially and from being a major player in Italy’s pay TV arena, which is dominated by Telepiu. The resignation of Letizia Moratti in September as News Corp. Europe president and Murdoch’s representative in Italy has aided in creating a climate of uncertainty at Stream.