UPDATE 1-Italy's Mediaset wins Warner, Universal rights
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MONTE CARLO, Monaco, Jan 18 (Reuters) - Mediaset, Italy's largest private broadcaster, has won exclusive broadcasting rights for Time Warner (TWX.N) and Universal (UVV.N) movies and television series in Italy, its deputy chairman announced on Friday.
Pier Silvio Berlusconi did not disclose the amount of money paid for the rights by Mediaset (MS.MI). Industry sources put the value at $500-600 million.
Berlusconi, who made the announcement to reporters at an event in this tiny principality on the French Riviera, is the son of Silvio, Italy's former prime minister who owns Mediaset.
He also said advertising revenues were "very good" for January and February.
Federico Di Chio, head of Mediaset's digital terrestrial broadcasting service, said the broadcaster had beaten competitor Sky Italia to the rights during negotiations with the two U.S. studios last summer.
Sky Italia, which belongs to Rupert Murdoch's News Corp NWSa.N, used to enjoy rights to productions from Time and Universal.
The rights, which run for four years, include TV programmes like "ER".
Berlusconi said Mediaset would start broadcasting the new material on a new pay-per-view package called Premium Gallery as of Saturday.
The material would eventually be broadcast on its free television channels in Italy.
Mediaset is in talks with Telecom Italia (TLIT.MI), Fastweb (FWB.MI) and Tiscali (TIS.MI) to let them broadcast content from the rights through their own channels, including broadband.
It is also negotiating with Sky Italia. (Reporting by Claudia Cristoferi; Writing by Gilles Castonguay; Editing by Quentin Bryar)
