Telecom Italia Media sells 51 pct of MTV Italia to Viacom

MILAN, July 4 Thu Jul 4, 2013 3:01am EDT

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MILAN, July 4 (Reuters) - Italian television company Telecom Italia Media said on Thursday it signed an agreement to sell 51 percent of music channel MTV Italia to Viacom International Media Networks, a division of Viacom Inc.

The Italian broadcaster, controlled by telecoms group Telecom Italia, will receive 10 million euros for the stake in MTV Italia.

Telecom Italia Media will waive 9.7 million euros ($12.58 million) in financial receivables from MTV Italia, Telecom Italia Media said in a statement.

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