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The French media company Vivendi has announced that it will acquire Mediaset’s pay TV business Mediaset Premium.
The pay TV company is worth an estimated 900 million Euros.
Vivendi and Mediaset will work together to create original content for Mediaset Premium, and will also create a European online streaming service.
It hopes to challenge the likes of international giants Netflix and Amazon which also operate in Europe.
A spokesperson from Vivendi commented on the plan, emphasising the importance of content creation in the target language, saying: “If we want to be serious we have to invest in original local content – that’s what makes the difference.”