The French TF1 group is to buy up 49 per cent of the Italian company Europa TV for approximately 35m euros [approx 41m dollars]. The plan is to launch the national sports channel “Sport Italia” at the end of the year, in partnership with the financier Tarek Ben Ammar.
Holland Coordinator and Services B.V., Ammars company, is acquiring 100 per cent of the capital of Europa TV for a global price of 70m euros. TF1, through its wholly-owned subsidiary Eurosport, has reached an agreement with Holland Coordinator and Services to acquire 49 per cent of the capital of Europa TV.
Europa TV has coverage rights for 83 per cent of Italy. If the agreements get official approval, the partners plan to launch in time for this year’s Christmas and New Year periods on an unscrambled basis.