Italian content provider Sitcom Spa has announced ambitious plans for this year which include the launch of a multimedia portal and a public flotation.

Two years ago, when Rome-based Sitcom launched Marcopolo, the first digital satellite TV channel entirely produced in Italy, many industry insiders judged the move a folly. At the time it seemed that no company besides RAI or Mediaset had the know-how or financial resources to launch a new satellite TV channel. However, Sitcom Spa has succeeded in closing the 1999 financial year with a balanced budget, and a turnover of L12 billion (Euro 6.2 million). During the course of last year, the company launched a second channel, INN, which is also transmitted as part of Telepiu’s digital bouquet D+. Seventy five per cent of Sitcom’s revenues came from subscriptions, with the remaining 25 per cent coming from advertising.

However, conditions have been far from ideal, according to Sitcom CEO Valter La Tona. He was especially critical of the political establishment in Italy as well as the communications authority for paying very little attention to the development of digital satellite TV. La Tona cited the example of the new telecommunication bill which, two and a half years after its promulgation, has not yet been implemented, adding that "this situation of uncertainty makes it difficult to launch a company".

Sitcom’s ambitious short-term plans include investments in the foreign TV sector as well as online activities. Back in October, Sitcom International succeeded in obtaining four satellite TV licences from the Luxembourg government. The first two channels will be available from this spring – lifestyle channel Alice (broadcasting simultaneously in four languages on Astra) and Nuvolari, a channel aimed at motor racing fans which will be available from Eutelsat. These two channels which will complete Sitcom’s digital bouquet will initially be free-to-air, but will later be offered as pay-TV services.

Sitcom also plans to launch a multilingual Internet portal by March linked to topics developed by thematic TV channels. Future plans include providing editorial content to mobile phone operators using the latest UMTS technology. The online initiative has convinced Banca Popolare di Verona (through Gestielle Merchant) to buy an 18 per cent stake in Sitcom Spa worth L10 billion. The remaining shareholders are Sitcom Holding (owned by La Tona and Gianncarlo Innocenzi) with 65 per cent, Finemiro (financial company owned by Cassa di Risparimio dell’Emilia Romagna) with 8 per cent, while the remaining stake is held by Banca Nord.

Meanwhile, thematic satellite TV channel Team TV has announced that it will soon change its shareholding structure and will float on the stock exchange. Digital TV operator Stream is set to take a 51 per cent stake in Team TV, which is currently owned by a consortium of a dozen Italian local TV channels (which will reduce their stake to 36 per cent) and CEO and founder Antonio Marano (13 per cent). Team TV is planning to offer the first ADSL video-on-demand service for Telecom Italia’s ISP Tin.it.