Fininvest Lays Down Conditions

Silvio Berlusconi is in negotiation with Channel 5 Holdings, sole bidders for the C5 licence, in an effort to lay down conditions of agreement, allowing Fininvest to join the consortium just weeks before a franchise winner is announced.

Investment from the Italian group could exceed £60m so Berlusconi is ensuring that his stake will lead to adequate returns. One condition outlined by the media entrepreneur is that his company will take up half the equity in a new air – time sales company dealing specifically with Channel Five. If an agreement is reached Fininvest will take control of a third of the shares in the franchise.