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 fierce rhetoric.
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. 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.
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