MEDIASET TAKES KIRCH MEDIA STAKE

Leading Italian commercial broadcaster Mediaset has bought a 2.48 per cent stake in Germany’s Kirch Media Group for L391.3 billion (E202.09 million). Mediaset, which is controlled by media magnate and former Italian prime minister Silvio Berlusconi, confirmed that the acquisition would be made through a transfer of assets that the two groups hold in the Epsilon joint venture.

Instead of a 14.45 per cent stake in the Sat1 TV channel (according to the original partnership), Mediaset will now have a 2.48 per cent stake in TV channels Sat1, Pro7, N24 and DSF. Also, Mediaset will regain full ownership of Publieuros-Publieurope, the advertising subsidiary of Epsilon, while Kirch would regain full ownership of Betafilm and PKS, the partnership’s film distribution and rights business. Mediaset also announced that it was in negotiations to increase its stake in Spanish private TV channel Telecinco from 40 to 45 per cent.