Telecom Italia reaches content-sharing deal with Mediaset

Telecom Italia has announced a content-sharing agreement with Mediaset, Italy's largest private broadcaster, as the former telecom monopoly pushes ahead with its plan to improve digital content after a boardroom shakeup.

Telecom Italia said Thursday the deal will allow subscribers to watch Mediaset's free-to-air channels and have access to the previous week's programing posted on-line.

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The deal is part of Telecom Italia CEO Amos Genish's plan to expand digital content. Genish was confirmed as CEO this week after the biggest shareholder, Vivendi, lost control of the board to activist hedge fund Elliott last week.

Vivendi acquired a 24 percent stake in Telecom Italia and 30 percent of Mediaset with the aim of creating a major Italian media holding, but a deal to take over Mediaset has fallen in dispute.