The Spanish government has blocked the sale of a 25% stake in Net TV to Viacom.
According to Todo TV News, Net TV, in which Vocento has a 55% stake, is one of the concessionaries for multiple DTT licences in the country.
It currently operates two signals that are sublet to the Paramount Channel and Disney Channel.
Since 2012, Viacom has paid the Vocento group around €2 million for the distribution of the Paramount Channel.
The Spanish government has justified its decision on the grounds of lack of reciprocity of investments with the US, where Viacom is based, and the EU.
Furthermore, foreign companies are not allowed to hold stakes of more than 20% in a Spanish company holding a DTT licence.
Vocento plans to appeal the ruling.
Any acquisition likely to be made through a Madrid-based Spanish company wholly-owned by Viacom.
