© Reuters. MEDIASET PROPOSES TO CHANGE ITS GOVERNANCE
MILAN (Reuters) – The board of directors of Mediaset has proposed Friday to reduce the number of its members and their mode of appointment, a decision that could reduce the influence of its French shareholder Vivendi (PA:VIV).
The broadcast group, owned by the family of the ex-president of the Council Silvio Berlusconi, continues the group of French media concerning a project thwarted partnership in pay-tv.
The two companies are engaged in a standoff since July, 2016, the date of Vivendi’s income on an agreement concluded a few months earlier under the terms of which he would have had to take the control of the private TV Mediaset Premium.
The conflict was exacerbated in December when Vivendi is mounted in the capital of the diffuser up to become the second largest shareholder behind the family Berlusconi, with a turnout of 28.8%.
The board of directors of Mediaset, Fininvest, the holding company of the family Berlusconi, owns 39.5 per cent, must be renewed next spring.
On Friday, the board of directors has voted unanimously in favour of a proposal to reduce the maximum number of its members from 21 to 15. He also wants to change the system of appointments.
“These changes are intended to prevent the absence of a majority, and to ensure stability” , said the source.
This new system, if adopted, will enable the council to make decisions without having to engage in a “tug of war” ongoing, she added.
These proposals will be submitted to the vote of shareholders at an extraordinary meeting on 15 December.
Person at Vivendi was not immediately available for comment.
(Giulia Segreti; Catherine Mallebay-Vacqueur for the French service)