Churchill Capital V logo

CCV - Churchill Capital V News Story

$9.95 -0.0  -0.1%

Last Trade - 6:04pm

Sector
Financials
Size
Mid Cap
Market Cap £490.9m
Enterprise Value £489.8m
Revenue £n/a
Position in Universe 3184th / 6852

Soccer-Telecom Italia and DAZN to team up in Serie A rights bid -sources

Mon 22nd February, 2021 6:12pm
MILAN, Feb 22 (Reuters) - Telecom Italia (TIM)  TLIT.MI  is
preparing to provide technological and financial support to
sports streaming service DAZN Group as it bids for the rights to
screen Italy's top soccer league, said three people close to the
matter.
    DAZN is leading the race for rights to broadcast Italy's
Serie A matches over the next three seasons in a challenge to
the country's dominant pay-TV player SKY, sources told Reuters
this month.  urn:newsml:reuters.com:*:nL8N2KD0F8
    The sources said that, under an accord that would be
finalised if DAZN won the tender, Italy's biggest phone group
would provide distribution capabilities to DAZN, betting on
soccer to promote its broadband services.
    TIM already has a distribution accord in place with both
DAZN and SKY to stream sports events on its TIM Vision video
platform.  urn:newsml:reuters.com:*:nL8N28J5D9
    To win the right to show all Serie A matches on its
streaming app, DAZN is offering about 850 million euros ($1
billion) per season, sources said previously.
    A document seen by Reuters showed that DAZN's financial
partner in the venture would cover more than 40% of the annual
payments due by DAZN to Serie A.
    The document does not specify the identity of the partner, 
but the sources said it refers to TIM, which would invest at
least 1 billion euros over three seasons. 
    Bloomberg News reported news of the accord between DAZN and
TIM earlier on Monday.    
($1 = 0.8220 euros)
    

 (Reporting by Elvira Pollina
Writing by Valentina Za
Editing by David Goodman
)
 ((valentina.za@thomsonreuters.com; +39 02 6612 9526;))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.