April 24, 2001 |
Telepiu, the unprofitable Italian pay-television unit of Vivendi Universal, may acquire control of its only rival, money-losing Stream, sources familiar with the companies said. Vivendi, Europe's biggest media company, may announce the agreement as soon as today, the sources said. Merging Telepiu with Stream, which is owned by News Corp. and Telecom Italia, would help them cut costs. If they don't, one may go out of business, analysts said.