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. Last Updated: 07/27/2016

Murdoch Enters Italy

ROME -- Telecom Italia SpA signed a deal over the weekend to sell 65 percent of its digital pay-television unit, Stream, to a group of companies including Murdoch's News Corp.

News Corp. will take a 35 percent stake, Italy's Cecchi Gori group 18 percent, and SDS, a company formed by four Italian soccer clubs, 12 percent.

Italy's communication minister said Sunday he welcomed Australian-born media magnate Rupert Murdoch's minority entry to the country's pay-television market, saying, ''In Italy, there's room for all.''

Murdoch has been trying to gain entry to Italy's pay-television field for some time.