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Telecom Italia's TV deal with Sky to last five years

Reuters - UK Focus

(Adds dropped words in 5th paragraph)

ROME, April 16 (Reuters) - Telecom Italia (Other OTC: TIAJF - news) 's agreement to offer the full content of TV company Sky Italia on its networks will last five years, it said on Thursday, launching a service that will help boost broadband demand in Italy.

The agreement, first announced about one year ago, could make Telecom Italia's broadband offering more attractive and help Sky Italia reach more clients on top of those who already receive its programmes via satellite.

"The deal will last for five years but it can be renewed because it has strategic value," Telecom Italia Chief Executive Marco Patuano said at a news conference.

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The quadruple play offer will be available to Telecom Italia customers with fiber-optic or ADSL connections at a promotional price from today.

As part of its three-year domestic investment plan, Telecom Italia has earmarked 2.9 billion euros ($3 billion) to build faster fixed and mobile networks and is looking to bring fiber-optic cables into the homes of Italy's 40 biggest cities.

Like other telecom companies, Telecom Italia is moving into the content market to find new sources of income as sales from its traditional voice services decline as competition from online firms increases.

Telecom Italia is also in talks with U.S. online movie streaming firm Netflix (Xetra: 552484 - news) over a possible content deal as well as with Mediaset (Other OTC: MDIUY - news) , the TV firm controlled by former Italian prime minister Silvio Berlusconi. ($1 = 0.9325 euros) (Reporting by Alberto Sisto, writing by Danilo Masoni, editing by Vincent Baby)