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Mediaset CEO says to carry on with pay-TV projects without Vivendi

Reuters - UK Focus

MILAN, Dec (Shanghai: 600875.SS - news) 1 (Reuters) - Italian broadcaster Mediaset (Amsterdam: MA8.AS - news) said it will look for other partners for its pay-TV arm after failing to sell the unit to France's Vivendi (LSE: 0IIF.L - news) , adding there was no contact with UK-based rival Sky (Frankfurt: 893517 - news) at present.

Mediaset CEO Pier Silvio Berlusconi said possible partners were broadcasters in Germany, France or Italy.

The company, controlled by the family of former prime minister Silvio Berlusconi, locked horns with Vivendi after the French media group walked away from an agreement to take control of Mediaset Premium.

Vivendi challenged Mediaset Premium's business targets, saying its expectation of breaking even in 2018 was unrealistic. The CEO of the pay-TV unit warned last month Mediaset Premium had fewer subscribers than targeted.

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"Vivendi caused us a very serious damage," Pier Silvio Berlusconi told reporters on the sidelines of an event.

"The projects we proposed to the French were ours, we're still working on them. Creating a pan-European platform is the only way to fend off competition from Netflix (Xetra: 552484 - news) or web companies such as Amazon."

Berlusconi also said Mediaset (LSE: 0NE1.L - news) 's advertising revenues would rise this year following a "good" November. (Reporting by Claudia Cristoferi, writing by Valentina Za; Editing by Elaine Hardcastle)