You will be redirected back to your article in seconds

Fininvest slide adds to Silvio slump

Slide attributed to a one-time gain of $1.9 bil

Silvio Berlusconi’s family holding company, Fininvest, which controls the tycoon’s film production, TV and book publishing empire, reported a near-10% decline in first half operating profits to e719 million ($915 million).

The slide was attributed to a one-time gain of $1.9 billion in 2005 from the sale of a 16.68% stake in Berlusconi’s broadcast group Mediaset, which boosted that half’s figures, company said in a statement late last week.

It’s been a difficult year for Italy’s richest man. The former prime minister lost the general election in April and Mediaset’s share performance continues to dive as an advertising and ratings slump wreaks havoc on the bottom line.

Fininvest, however, signaled it will continue to be an aggressive player in the European media sector.

Investments during the period rose 57% year-on-year to $1.27 billion as a lot of coin was plowed into digital terrestrial TV.

Fininvest maintains a 35% stake in Mediaset, a 50% stake in publisher Mondadori plus ownership of Medusa Films and soccer outfit A.C. Milan.

More Scene

  • Mark Hamill'Star Wars: The Last Jedi'

    'Star Wars: The Last Jedi' Honors Late Carrie Fisher at Elaborate Premiere

    Silvio Berlusconi’s family holding company, Fininvest, which controls the tycoon’s film production, TV and book publishing empire, reported a near-10% decline in first half operating profits to e719 million ($915 million). The slide was attributed to a one-time gain of $1.9 billion in 2005 from the sale of a 16.68% stake in Berlusconi’s broadcast group […]

  • Ajit Pai Free Speech

    FCC Chair Plays for Laughs at D.C. Event Amid Fierce Net Neutrality Debate

    Silvio Berlusconi’s family holding company, Fininvest, which controls the tycoon’s film production, TV and book publishing empire, reported a near-10% decline in first half operating profits to e719 million ($915 million). The slide was attributed to a one-time gain of $1.9 billion in 2005 from the sale of a 16.68% stake in Berlusconi’s broadcast group […]

  • GQ Men of the Year Awards

    Stars Reflect on 2017 at GQ's Men of the Year Party: 'This Is a Year of Cultural Revolution'

    Silvio Berlusconi’s family holding company, Fininvest, which controls the tycoon’s film production, TV and book publishing empire, reported a near-10% decline in first half operating profits to e719 million ($915 million). The slide was attributed to a one-time gain of $1.9 billion in 2005 from the sale of a 16.68% stake in Berlusconi’s broadcast group […]

  • Variety Press Play Home Entertainment and

    Variety’s Home Entertainment & Digital Hall of Fame Inducts Five Industry Leaders

    Silvio Berlusconi’s family holding company, Fininvest, which controls the tycoon’s film production, TV and book publishing empire, reported a near-10% decline in first half operating profits to e719 million ($915 million). The slide was attributed to a one-time gain of $1.9 billion in 2005 from the sale of a 16.68% stake in Berlusconi’s broadcast group […]

  • TrevorLIVE

    Kristin Chenoweth Doesn't Know If She'll Be in Season 2 of 'American Gods'

    Silvio Berlusconi’s family holding company, Fininvest, which controls the tycoon’s film production, TV and book publishing empire, reported a near-10% decline in first half operating profits to e719 million ($915 million). The slide was attributed to a one-time gain of $1.9 billion in 2005 from the sale of a 16.68% stake in Berlusconi’s broadcast group […]

More From Our Brands

Access exclusive content