×
You will be redirected back to your article in seconds

Telecom wants out of Stream

If News Corp. won't buy others will be courted

MILAN — Telecom Italia is reportedly interested in selling all or part of its 50% stake in Stream to News Corp., which already owns the other 50% and exercises management control over the Italian pay TV network.

Telecom Italia, which sold stakes in unprofitable Stream to News Corp. and other investors last year, has concluded that the pay TV business is not compatible with its other activities and represents an unnecessary drain on resources.

A person familiar with News Corp. said, however, that it is not currently interested in raising its ownership of Stream — and its share of the pay TV company’s losses.

No transaction is imminent, people close to Telecom Italia said; if no agreement is reached with News Corp., the stake might be offered to other investors.

Stream, which has 520,000 subscribers, has an estimated value of about $475 million.

More Biz

  • STAR WARS-THEMED LAND MODEL AT D23

    John Williams to Compose New 'Star Wars' Music for Disney Parks Attractions

    MILAN — Telecom Italia is reportedly interested in selling all or part of its 50% stake in Stream to News Corp., which already owns the other 50% and exercises management control over the Italian pay TV network. Telecom Italia, which sold stakes in unprofitable Stream to News Corp. and other investors last year, has concluded […]

  • Fox Sports NFL Sunday

    AT&T Sets Broad Carriage Renewal Pact With Fox Networks Group

    MILAN — Telecom Italia is reportedly interested in selling all or part of its 50% stake in Stream to News Corp., which already owns the other 50% and exercises management control over the Italian pay TV network. Telecom Italia, which sold stakes in unprofitable Stream to News Corp. and other investors last year, has concluded […]

  • President Donald Trump talks with Gov.-elect

    Trump Says He'll Work With California to Aid Wildfire Relief

    MILAN — Telecom Italia is reportedly interested in selling all or part of its 50% stake in Stream to News Corp., which already owns the other 50% and exercises management control over the Italian pay TV network. Telecom Italia, which sold stakes in unprofitable Stream to News Corp. and other investors last year, has concluded […]

  • church set Westworld Paramount Ranch Western

    Park Service Aims to Rebuild Western Town at Paramount Ranch in Two Years

    MILAN — Telecom Italia is reportedly interested in selling all or part of its 50% stake in Stream to News Corp., which already owns the other 50% and exercises management control over the Italian pay TV network. Telecom Italia, which sold stakes in unprofitable Stream to News Corp. and other investors last year, has concluded […]

  • Jim Acosta Microphone Moment

    First They Came For Acosta. Why We Sued Trump Before He Acts Again (Opinion)

    MILAN — Telecom Italia is reportedly interested in selling all or part of its 50% stake in Stream to News Corp., which already owns the other 50% and exercises management control over the Italian pay TV network. Telecom Italia, which sold stakes in unprofitable Stream to News Corp. and other investors last year, has concluded […]

  • Daniel GlassUJA-Federation of New York's Music

    Glassnote Music Strikes Strategic Partnership With Kobalt’s AWAL

    MILAN — Telecom Italia is reportedly interested in selling all or part of its 50% stake in Stream to News Corp., which already owns the other 50% and exercises management control over the Italian pay TV network. Telecom Italia, which sold stakes in unprofitable Stream to News Corp. and other investors last year, has concluded […]

  • Movie Theater

    Studios Expected to Push for Early Home Release in 2019 (EXCLUSIVE)

    MILAN — Telecom Italia is reportedly interested in selling all or part of its 50% stake in Stream to News Corp., which already owns the other 50% and exercises management control over the Italian pay TV network. Telecom Italia, which sold stakes in unprofitable Stream to News Corp. and other investors last year, has concluded […]

More From Our Brands

Access exclusive content