Netflix has reportedly signed a co-production movie deal with Italian broadcaster Mediaset for seven titles to be distributed in the country and worldwide.
Mediaset Italia claims to target more than 60 million Italians living around the world. The company’s domestic TV channels include Canale 5, Rete 4 and Italia 1.
Italian daily Il Sole 24 Ore reports Netflix will majority fund the movies in exchange for first-run distribution rights. CEO Reed Hastings is scheduled to appear Oct. 8 for a public presentation of the deal.
Mediaset CEO Piersilvio Berlusconi earlier this year disclosed the broadcaster was in negotiations with Netflix and Amazon regarding original content production.
The pact with Mediaset comes as Italian prosecutors have reportedly opened an inquiry involving Netflix’s tax status in the country.
Netflix reports third-quarter (ended Sept. 30) results on Oct. 16.