Merger of the digital terrestrial network operator businesses of Telecom Italia Media and Gruppo Editoriale L’Espresso finalised.
Massimo Confortini is the Chairman of the Company, which has taken the new name PERSIDERA; Paolo Ballerani confirmed in his position as Chief Executive Officer.
Telecom Italia Media (TI Media) and Gruppo Editoriale L’Espresso (GRUPPO ESPRESSO) announce that, after receiving on 13 May 2014 all authorisations required by applicable regulations, today the merger of the digital terrestrial network operator businesses of Telecom Italia Media Broadcasting S.r.l. (TIMB) and Rete A S.p.A. (Rete A) was finalised, in accordance with the terms and conditions disclosed to the market on 9 April 2014.
TI Media and GRUPPO ESPRESSO hold respectively 70% and 30% of the shares of Persidera — the new name taken by TIMB — which has been formed as a joint-stock company (Società per Azioni) and controls the whole capital of Rete A.
Massimo Confortini has been appointed as Chairman of Persidera and Paolo Ballerani has been confirmed in his position as Chief Executive Officer. The Board of Directors was completed with the appointment of Severino Salvemini as Vice Chairman, Adriano De Maio, Francesco Dini, Luigino Giannini, Guglielmo Noya, Carlo Ottino and Francesca Petralia.
This transaction has resulted in the creation of the leading independent network operator in Italy, which owns five digital multiplexes with nationwide high-coverage infrastructure, able to provide high-quality services. The group resulting from the transaction will be the primary supplier of the main non-integrated national and foreign television publishers operating on the Italian market. The merger will also lead to significant industrial synergies.