Reuters: Global Markets: L'Espresso shares soar on TV talks report

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L'Espresso shares soar on TV talks report Sep 6th 2012, 11:31 MILAN | Thu Sep 6, 2012 7:31am EDT MILAN (Reuters) - Italian publisher L'Espresso rose more than 10 percent on Thursday after an Italian daily reported it was in talks with News Corp's Italian pay television unit Sky Italia for a potential partnership in digital television. L'Espresso and Sky Italia, which already have a commercial deal on frequencies in place, declined to comment but two sources close to the matter told Reuters no talks were underway. "There is longstanding commercial cooperation between the Italian unit of Rupert Murdoch's group and L'Espresso. But nothing else," one of the sources said. "It's a hypothesis that is not being discussed, even though sooner or later L'Espresso will have to look at how to get better value from its frequencies," a second source said. At 1051 GMT, L'Espresso shares were up 10.2 percent at 0.943 euros, outperforming the broader Milan index's 1.3 percent gain. L'Espresso is already renting broadcasting bandwidth to Sky Italia for Cielo, a free-to-air channel. Financial daily MF cited advertising sources as saying that the 50/50 joint venture would focus on L'Espresso's "little-used" television company that already operates several digital television channels. The partnership would give Sky Italia an opportunity to grab share in the free-to-air market, where Silvio Berlusconi's Mediaset is leader. (Reporting by Claudia Cristoferi and Jennifer Clark; editing by Keiron Henderson) Link this Share this Digg this Email Reprints

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