News Corporation chairman Rupert Murdoch has announced the formation of a new company to investigate and manage media investments in continental Europe.
News Corp Europe will be based in Milan and chaired by Mrs Letizia Moratti, the former chairman of Italian state broadcaster RAI.
Mr Murdoch also announced that News Corp Europe, along with French TV company TF1, was in advanced discussions with Telecom Italia about the formation of a joint venture to develop the Italian pay-TV market.
News Corporation: 0171 782 6000
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