Telecom Italia Media sells MTV (By Sylodium, international trade directory)

Telecom Italia Media closed the agreement to sell its 51 percent stake in MTV Italia to Viacom for 13.4 million Euros. The sale price factors in the adjustment made following changes in the circulating capital.

At the close of the sales agreement, Telecom Italia Media renounced the 9.3 million euros in financial receivables held with MTV Italia. With this purchase, the Viacom Group takes complete editorial and operational control over MTV Italia, which includes MTV and MTV Music, Hits, MTV Classic and the MTV Pubblicita', the group's advertising company, according to Agenzia Giornalistica Italia.

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