Football: Serie A at a crossroads as funds bid for new media company

MILAN: Large private equity funds have teamed up to bid for a minority stake in a firm holding Serie A broadcasting rights, two sources familiar with the matter said, leaving Italy's top soccer clubs at a crossroads regarding the future of their vital media business.

Sources say private equity firms CVC Capital Partners, Advent International and Italy's state-backed fund FSI tabled a joint offer ahead of a deadline that expired on Friday. Both offers target a 10per cent stake in the new company to which Serie A would transfer its broadcasting rights for 10 seasons, a venture which private equity investors have valued at 13-15 billion euros.More than half of Serie A revenues come from broadcasting rights, but it lags the financial heavyweights of England's Premier League, La Liga in Spain and the German Bundesliga.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Axington postpones EGM, company linked to group in Newcastle takeover bid cites 'recent media developments'Axington postpones EGM; company linked to group in Newcastle takeover bid cites 'recent media developments'
Source: The Straits Times - 🏆 8. / 63 Read more »

Distressed funds eye European companies as virus support schemes easeFunds which buy debt companies are no longer able to repay are getting ready to deploy their large cash piles in Europe, betting the easing of ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »