Telecom Italia Media reached an undertaking with Airplus TV on the PPV digital terrestrial activities

10/17/2008 - 08:54 AM

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Today the Company executed a letter of intent with a Airplus TV an international operator for the purpose of selling its PPV activities.

The main terms of the letter of intent are the following:
1. Spin-off of the PPV going concern including relevant activities and personnel into a newly formed company with the aim of selling the same to the Italian subsidiary of Airplus TV.
2. The acquisition by Telecom Italia Media of a minority participation (9%) into the Italian subsidiary of Airplus TV.
3. The execution of bandwidth capacity service agreements (14 Mbits) for the transmission by the Italian subsidiary of Airplus TV of pay tv channels and pay per view contents over Telecom Italia Media digital network.
4. A period of up to November 2008 for the execution of the final agreements.

By implementing this partnership Telecom Italia Media will achieve an important objective of its guidelines and  strategic plan, as announced last August, which envisages the repositioning of the digital terrestrial business strategy aimed to recover profitability.