Dispelling mounting speculation that News Corp has given up on its Italian TV ambitions, Rupert Murdoch and Telecom Italia president Roberto Colaninno met for the first time ever on July 12 in Milan to discuss the future of Stream, in which both companies have a 35 per cent stake. It has emerged that the talks extended beyond Stream to possible collaborations in film, TV and multimedia ventures, both in Italy and in Europe. Previously, News Corp Europe (NCE) chief executive Letizia Moratti met with Prime Minister Massimo D’Alema in Rome.

Stream’s director general John Lack recently said that if Telecom Italia or SDS decide to sell their stake in the pay-TV venture, News Corp Europe could "in theory" increase its stake, but that the arrival of new shareholders is more probable. Italian Communications Under-secretary Vincenzo Vita described the news of a possible increase in NCE’s stake in Stream as "very preoccupying." He added that Telecom Italia had given a guarantee that the control of Stream would not pass into "foreign hands". Also, on July 23 NCE announced that Paolo Glisenti will take up the post of vice president in charge of development for continental Europe, while Lucia Morselli will become chief financial officer of the media group.