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Mediaset approves changes to keep pan-European TV plan afloat

Y2kTheNewOldies

Y2kTheNewOldies

https://www.reuters.com/article/us-...eep-pan-european-tv-plan-afloat-idUSKBN1Z90JS

MILAN (Reuters) - Italy’s Mediaset on Friday won shareholder approval for governance tweaks needed to smooth a pan-European expansion plan despite opposition from its second-biggest investor Vivendi, which is fighting the project in court.

Controlled by the family of former Italian Prime Minister Silvio Berlusconi, Mediaset (MS.MI) last year approved a plan to merge its businesses in Italy and Spain (TL5.MC) under a Dutch-based company, called MediaForEurope (MFE). The broadcaster wants to use the new entity to pursue tie-ups in Europe to take on competition from streaming apps such as Netflix (NFLX.O) and web giants like Google (GOOGL.O). But Vivendi, led by billionaire Vincent Bollore, opposes the plan, saying the governance structure of the new entity would strengthen Berlusconi’s grip on the company.
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Here is the fallout from the hearing.
 
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