Vivendi Enters Deal with Mediaset in Challenge to Netflix

AFP: Vivendi will acquire Mediaset’s pay TV arm and take a stake in the Italian broadcaster as part of French tycoon Vincent Bollore’s plan to build a European media giant to rival U.S. streaming powerhouse Netflix. The partnership will see the companies swap 3.5 percent stakes in a “strategic alliance” aimed at “capturing new opportunities across the international competitive landscape,” Mediaset said.