RAI AND CANAL+ STRIKE AGREEMENT ON SUBSCRIPTION TELEVISION IN ITALY.

The Board of the Italian Broadcaster RAI unanimously approved an agreement on December 15 with the private French broadcaster Canal+ concerning the Italian subscription channel Telepi-. Canal+ currently controls 90% of Telepi- capital, and Silvio Berlusconi's Fininvest group 10%. The agreement between RAI and Canal+ precedes the announcement of a competing alliance in subscription television in Italy involving Telecom Italia and Rupert Murdoch. Under the terms of the agreement RAI will initially take a 10% stake in Telepi-, which may subsequently be raised to 45% alongside other Italian partners such as Wind, a joint venture controlled by Enel (the public electricity company)...

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