Italian broadcaster Mediaset has announced plans to set-up a new pan-European media company that will operate in Italy, Spain and Germany.
MediaForEurope will merge Mediaset Italy and Mediaset Spain and include the company’s recently acquired 9.6 per cent stake in Germany’s ProSiebenSat1. The newly consolidated company will be floated on the stock markets in Italy and Spain.
According to Mediaset, thanks to “integrated and diverse approach” the new company will have the “scale to compete” with “global players” and is expected to reach more than 100 million homes. It described the move as an important step “towards the development of a fully integrated media company that can become a market leader” in both the linear and non-linear entertainment markets.
“In a world of global competition, creating a group with adequate size that can speak to a European audience becomes a crucial factor for the future,” Mediaset managing director Pier Silvio Berlusconi said.
MediaForEurope will be based in the Netherlands, for “regulatory” reasons but will be fiscally based in Italy.