Mediaset is set to receive backing from its shareholders over its plans to shift its legal base to the Netherlands.
The Italian broadcaster has long held ambitions to launch a pan-European media operation dubbed MediaForEurope as a means of providing competition to European tech and streaming giants like Netflix, Google and Facebook. This plan had been opposed by major shareholder Vivendi in a years-long spat, but the pair made peace last month.
Mediaset now has a clear run at merging its Italian and Spanish operations under a Dutch holding company, with Vivendi agreeing to back the relocation which will be voted on today.
Following the move, Mediaset will continue its international push. The group has attempted to involve ProSiebenSat.1 in its consolidation. While the German broadcaster has historically played down reports, CEO Rainer Beaujean recently said that “we will not close our minds to any reasonable idea” and that “we will of course listen to the proposal with an open mind and check whether it not only makes sense for the other party but is also advantageous for ProSiebenSat.1 and all our stakeholders.”
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