Viacom International Media Networks Italia S.r.l., the Italian operating subsidiary of Viacom, sold to Sky Italian Holdings S.p.A. the entire corporate capital of MTV Italia S.r.l., the company that owns the LCN position n. 8 on the Italian television, on July 31, 2015. Upon sale, the company was renamed as “Nuova Società Televisiva Italiana S.r.l.”

The sale of MTV Italia S.r.l. followed an internal restructuring of Viacom's Italian operations aimed at streamlining the Italian ownership chain, which involved (i) a partial de-merger of MTV Italia S.r.l. (of all its operations except the LCN position n. 8) into Viacom International Media Networks Italia S.r.l. and (ii) the merger of Milano Design Studio S.r.l. into Viacom International Media Networks Italia S.r.l.

The sale was part of a wider commercial transaction with Sky signed on June 16, 2015, which included the execution of a channel license content agreement between Viacom and Sky, a programming agreement and a trademark license agreement, all of which became effective on July 31, 2015.

Viacom is a global leader in global entertainment, operating across television, motion pictures and a wide range of digital media brands, part of a group that includes the multiplatform properties of MTV Networks, BET Networks and Paramount Pictures.

Sky is a leading entertainment company, which operates across five countries: Italy, Germany, Austria, the UK and Ireland. It offers a broad range of content, delivers market-leading customer service and uses innovative new technology to give customers a better TV experience.

Shearman & Sterling represented Viacom, with a team that included partner Tobia Croff (Milan-Mergers & Acquisitions/Capital Markets) and associates Maria Antonietta Romeo (Rome-Mergers & Acquisitions/Capital Markets) and Davide Cavazzana (Rome- Mergers & Acquisitions).