MILAN, July 31 (Reuters) - European pay TV company Sky has agreed to buy Italy’s MTV free-to-air channel from U.S. media group Viacom, a move that could pressure local market leader Mediaset.
Sky Italia, the Italian arm of Sky, and Viacom did not disclose financial details in a joint statement on Friday.
The channel, which has the prized No. 8 position on the TV remote dial, will continue to distribute Viacom content, coupled with programming from Sky Italia.
Reporting by Maria Pia Quaglia and Danilo Masoni, editing by Agnieszka Flak