The planned formation of a dominant satellite television group in Italy looks set to go ahead without regulatory obstruction, according to an article in the Financial Times today.
Rupert Murdoch, chairman of News Corp, has already offered to make concessions in order to allow the Â900 million deal to go ahead (see Murdoch Makes Concessions On Telepi). The FT says that most of the concerns that were raised in Brussels have already been addressed in Murdoch’s proposals, although a few extra measures may need to be taken.
Under the terms of the deal, Vivendi Universal will receive a Â470 million cash payment and News Corp will also absorb Â423 million of debt at Telepiù.