A new meeting between Telecom Italia president Roberto Colaninno and News Corp boss Rupert Murdoch regarding the future of Italian digital satellite TV platform Stream is planned for this week.

Interspace has learned that the two were scheduled to participate at a meeting of Stream shareholders in Rome on June 26 or June 27. It follows a face-to-face meeting held in Los Angeles on June 14. This will be the first meeting of Stream’s management, following the recent reorganisation, which saw the exit of former shareholders Cecchi Gori and SDS.

Telecom Italia and News Corp currently each control 50 per cent of Stream, but rumours are rife that the shareholding structure may suffer further changes. A more urgent problem that faces the shareholders is the dire financial situation. After losses of L458 billion (E236.5) in 1999 on a turnover of L87 billion, the negative trend has continued during the first quarter of this year, with estimated losses of around L314 billion.

The administrative council is also set to formally approve the entrance of new members Stefano De Angelis and Jay Noah Iszkowitz, in place of Sergio Cragnotti. Colaninno is very keen to take a decisive role in Stream, which is considered a strategic venture for the Italian telco, but has so far not produced the expected results. One of the major dilemmas Stream’s two shareholders will have to face, if in the meantime Murdoch does not exit the Italian market in which so far he has not made a major impact, is whether to find a new European partner (possibly French private broadcaster TF1) or to continue on alone but with a more stringent pledge and pact.