Article_Normal

Article_Normal

Vivendi, Mediaset put an end to yearslong dispute

Vivendi, Mediaset put an end to yearslong dispute

5/4/2021 11:42:00 AM

Vivendi, Mediaset put an end to yearslong dispute

French media giant Vivendi SE and Italian broadcaster Mediaset SpA have reached an agreement to settle what has been nearly five years of legal battles and...

The two companies said in a joint statement late Monday that they have agreed to waive all litigation and claims between them, with Vivendi set to vote in favor of several resolutions at Mediaset's annual general meeting and reduce its overall stake in Mediaset.

Biden Outlines Renewable Energy Plan To Invade Mt. Olympus And Steal Aeolus’ Bag Of Wind Texas, Minnesota, Ohio Students to Hear from Astronauts in Space 34 Republicans write letter asking Nancy Pelosi to lift mask mandate in House of Representatives

Vivendi and Mediaset, which is controlled by the family of former Italian Prime Minister Silvio Berlusconi, have been at loggerheads since 2016, when Vivendi backed out of a deal to acquire Mediaset's pay-TV unit Mediaset Premium, triggering a series of legal battles.

The French conglomerate controlled by billionaire Vincent Bollore ramped up its stake in Mediaset to the 28.8% it currently owns, a move which Mediaset considered hostile and sought to reverse.In 2017, a decision from the Italian communication authority, Agcom, forced Vivendi to transfer a 19.19% stake in Mediaset to asset trust Simon Fiduciaria SpA to comply with legislation on the protection of media pluralism in Italy. headtopics.com

Under the latest deal, Vivendi agreed to sell the 19.19% stake held through Simon Fiduciaria over a five-year period.Mediaset's majority shareholder Fininvest SpA, the holding company controlled by the family of Mr. Berlusconi, will buy a 5% Mediaset stake held directly by Vivendi, with the French company remaining a shareholder with a 4.61% stake, which it can retain or sell at any time and any price.

Read more: MarketWatch »

Liz Cheney says she’s not running for president

In a contentious Fox News interview, the Wyoming Republican also said it was important that former President Donald Trump “never again gets anywhere near the Oval Office.”