French media group Vivendi Universal (VU) has reached an agreement to buy the Italian pay-TV platform, Stream, from News Corp, according to a report in the Financial Times. The paper reports that VU will pay $390 million for the business.
In principle, Stream will be merged with Vivendi’s Telepiu business, although the Italian regulation authorities have so far opposed such a move on monopoly grounds.
There was no confirmation of the deal from Vivendi Universal as of this morning.
