Telecom Italia Media has signed a letter of intent with Swedish pay-television company Airplus TV for the sale of its La7 Cartapiu digital-terrestrial pay-per-view service . Under the agreement, due to be finalised by the end of next month, Telecom Italia Media (TI Media) will take a nine-per-cent stake in Airplus TV's Italian subsidiary and will lease its digital-terrestrial capacity to the company. The sale of the business will generate a reported €15 million (￡12 million), while the capacity leasing is expected to bring in €60 million over five years. After exiting the pay-per-view business, which posted negative Ebitda of € 10 million in the first half of 2008, TI Media will concentrate on its free-to-air channels La7 and MTV Italia.
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