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MESSIER WANTS STREAM BANNED FROM PLATCO
Jean-Marie Messier, the chairman of French utility and communications giant Vivendi, has requested that Italian pay-TV platform Stream should be excluded from Rupert Murdoch’s planned global satellite holding Platco.
The problem arises from the fact that in Italy, Murdoch’s News Corp owns a 50 per cent stake in Stream, while Vivendi (through Canal+) owns a majority stake in rival operator Tele+. According to Italian press reports, Messier made it clear that he is primarily seeking a “strategic industrial partnership” and that any co-operation with Stream is “unimaginable.”
The news comes at a time when there are persistent rumours that News Corp is planning to cut its stake in Stream. These rumours were further boosted, following a recent interview by Telecom Italia boss Roberto Colannino in which he revealed plans to create a multimedia pole which would group Telecom Italia’s activities in the pay-TV (Stream) and Internet (Tin.it) sectors.
In a related development, on June 6, the European Commission announced that it would begin a one month review of plans by Telecom Italia and News Corp Europe (NCE), to take joint control of Stream. The parties were notified on May 25 and the Commission will issue its preliminary findings by June 29. Back in April, Telecom Italia and NCE bought out minority shareholders Cecchi Gori Communications and SDS and increased their stakes from 35 per cent to 50 per cent each, after an Italian court ruled that a capital increase was legal.
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