Italian entrepreneur Diego Della Valle has confirmed his interest in buying the La7 network from Telecom Italia Media (TIM).
However, in a statement he said he needs more time to study the dossier. Della Valle plans to bring together a group of investors to buy the channel.
Telecom Italia intends to sell the broadcaster, but set last Friday, February 15, as the deadline for offers. Della Valle said he sent an official request to the board of directors of Telecom Italia to extend the deadline.
“My idea is to unite a group of people as shareholders who love our country and who want to support an important instrument of information, guaranteeing it total autonomy, and to bring in shareholders who are professionals currently working at La7, and also others who want to participate in this project,” Della Valle said.
The board of directors of Telecom Italia will meet Monday, February 18, to discuss the various offers that arrived before the weekend. According to Italian press reports, there are three other parties interested in the channels, one from investment fund Clessidra led by former Fininvest CEO Claudio Sposit, another from Cairo Communication and a third one from broadcaster Centro Europa 7.
One of Cairo Communication’s subsidiaries is Cairo Pubblicità, the agency that sells commercial airtime on La7 as well as on a number of other channels including those of Turner Broadcasting (CNN, Cartoon Network and Boomerang) as well as on Sportitalia, Sportitalia 2 and Sportitalia24.
TIM owns and operates two digital nationwide channels, La7 and MTV Italia.