Spain’s National Securities Market Commission (CNMV) has authorized a bid launched by Italian group MediaForEurope to acquire the remaining 44.31% of Mediaset España it does not already own.
Italian media group MediaForEurope sees building a continental TV supergroup as the answer to challenges posed to Europe’s traditional domestic broadcasters by global streaming services, Ampere Analysis remarked in its latest report.
Fund manager Reade Griffith bought a minority stake in Spanish broadcaster Mediaset España after its parent company MediaForEurope launched a public takeover offer.
Mediaset’s General Meeting of shareholders approved the company’s change of name to MFE-MediaForEurope NV, along with the introduction of a dual-class share structure and authorization for the issue of new shares.