TI Media, L'Espresso in talks for broadcasting tie-up

Reuters News
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Posted: Oct 07, 2013 12:19 PM

MILAN (Reuters) - Telecom Italia Media <TCM.MI> said on Monday it had signed a non-binding term sheet with publisher L'Espresso <ESPI.MI> to pave the way for a tie-up of their digital broadcasting activities.

In a statement, Telecom Italia Media said its board had decided to continue talks to reach a final agreement.

The operation would generate industrial synergies and create a company with five national bandwidth assets controlled by Telecom Italia Media, it said.

Telecom Italia Media is controlled by Telecom Italia <TLIT.MI>.

(Reporting by Danilo Masoni, editing by Stephen Jewkes)