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Netflix confirms Mediaset deal, eyes Italy investment

Netflix Inc. confirmed that it entered an agreement with Mediaset SpA to jointly produce Italian films, Reuters reported.

The films are expected to be on Netflix in 2020 and will be available on Netflix worldwide. Mediaset will also air them on its free-to-air channels in Italy 12 months after their premiere on Netflix.

During the Oct. 8 announcement of the partnership, the companies unveiled the first five films they will produce and co-fund, including "The Divine Ponytail," a biopic on Italian soccer player Roberto Baggio.

Netflix CEO Reed Hastings said the company plans to open an office in Italy and invest about €200 million in the next two years in Italian films, according to a separate Reuters report.

Hastings also said Netflix will start paying taxes in Italy, after an investigation was reportedly launched against the company over tax evasion charges.