Report: Sky made approach to acquire Mediaset Premium

Pay TV giant Sky made an approach to acquire Italian broadcaster Mediaset’s pay TV arm but was rejected, according to a Reuters report.

According to Reuters, citing an unnamed source, informal contacts have been maintained despite the failure of the approach.

Mediaset has been searching for partners for its Mediaset Premium arm for some time, with interest reportedly expressed by Al Jazeera and Vivendi. In January Telefónica completed the acquisition of an 11.1% stake in the operation in a deal that valued Mediaset Premium at €900 million. Mediaset agreed to sell the stake to the Spanish telco last July as part of a wider agreement that saw the Italian broadcaster sell its 22% stake in Canal+ España to Telefónica.

Mediaset Premium last year secured exclusive rights to UEFA Champions League football for a reported €700 million.