Mediaset rises on renewed pay TV sale speculation

Shares in Italy’s Mediaset rose in early trading yesterday amidst speculation that it is about to sell its pay TV business.

Financial daily Il Sole 24 Ore has reported that Vivendi and Al Jazeera have begun due diligence on Mediaset Premium, which is expected to turn a profit of €55 million by 2017 and €102 million by 2018.

Mediaset secured exclusive rights to Champions League football in Italy in February at an estimated cost of about €660 million.

Revenues for the premium business for the first quarter stood at €142.8 million, down on the €144.5 million posted last year.