MILAN, June 27 Shares in Italian broadcaster Mediaset rallied more than four percent at the open on Friday after winning the right to air matches of the eight main teams in Italy's Serie A top-flight soccer league over the next three seasons.
Under the terms of the deal, rival Sky Italia, the satellite unit of 21st Century Fox, will also be able to air top matches and will have exclusive rights to matches of the other 12 teams in Serie A.
Even though Mediaset will pay 100 million euros more than in the past and will have the right to broadcast fewer games than under existing arrangements, analysts said this was an acceptable compromise.
Shares in Mediaset were up 3.68 percent by 0822 GMT, building on gains made earlier this week.
(Reporting by Lisa Jucca, editing by Stephen Jewkes)