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We assisted satellite operator Sky Italia throughout the investigation by AGCOM (the Italian telecoms and media regulator), into the wholesale pricing of its premium contents to third parties. The detailed cost model we developed for Sky Italia was at the heart of the dispute on wholesale charges. AGCOM approved of the architecture of the model and deemed it consistent with the Undertakings agreed between Sky Italia and the European Commission as condition for approval of the Newscorp/Telepiu' merger in 2003.