Telecoms Italia’s (TIM) board of directors has agreed CEO Amos Genish can push ahead with plans to expand its content offering.
Genish sat down with the board yesterday (5 December) to tackle a number of issues, including next year’s budget and future business and strategy plans.
The operator’s 2018-2020 Strategic Plan is set to be approved next March with the provision of video content a “key element”.
In light of this, the directors voted to let Genish finalise a new multi-year agreement with Mediaset Group, covering undisclosed linear content, movies, TV series and sport news.
It will come into force next year on the operator’s TIMVISION platform.
Separately, the board authorised Genish to negotiate with Mediaset over the acquisition of a range of football rights belonging to the broadcaster’s Premium pay-TV service.
The negotiations will be made against the backdrop of a complicated ownership picture.
TIM’s major shareholder is Vivendi, which owns a number of content companies such as Universal Music and YouTube challenger Dailymotion.
Vivendi also owns a stake in Mediaset, which communications regulator Agcom has claimed violates media plurality rules when combined with its ownership of TIM.
The French company has been told to reduce the shareholding in one of the businesses to 10 percent by next September.
While the regulatory hurdles play out, TIM has continued to develop its content offerings.
Last week, it unveiled TIM SHOW - a range of free content for its mobile subscribers valid for 12 months.
Games from Gameloft and mobile TV from Studio+, both Vivendi-owned companies, are on offer alongside news and some zero-rated music.
In October, it set up a content joint venture with Vivendi's pay-TV arm Canal+ that aims to acquire and produce films, TV series and documentaries.
In June, TIM became the first telco to sign a deal to offer content from the Olympic Games to subscribers.
Alongside the content announcements, TIM said it would continue to examine whether it would spin off its fixed network into a separate vehicle.
The directors also approved the 2018 preliminary budget ahead of schedule.
Genish said: “By approving a preliminary budget three months ahead of schedule, we provide clear plans and objectives from the very beginning of 2018, thus enabling the Company to start executing on its ambitious strategy to achieve an improved and sustainable business model.”