Mediaset’s profits take a dive in Q1

Results come after Berlusconi lost national elections

Dominant Italo commercial broadcaster Mediaset posted a sharp drop in net profit of E145.1 million ($185.1 million) for the first quarter of 2006, down from $253.4 million a year earlier, due to higher operating costs.

The results, in line with analysts’ expectations, come exactly one month after controlling shareholder Silvio Berlusconi lost national elections, forcing the TV tycoon-turned-politician to step down as prime minister.

Costs rose to $610.7 million from $518.1 million amid higher expenditures on soccer, content rights and digital TV technology.

Group revenues came in at $1.2 billion, while gross operating profit fell to $616.5 million, as advertising intake from its three channels rose 2.3%, below the group’s expectations.

Possible regulatory changes proposed by the new center-left government could hit the broadcaster’s balance sheet in coming months.

More Scene

  • 'Make it Reality' book launch

    Endemol Shine's Cris Abrego Shares Hope for Bilingual Programming at Paley Center

    Dominant Italo commercial broadcaster Mediaset posted a sharp drop in net profit of E145.1 million ($185.1 million) for the first quarter of 2006, down from $253.4 million a year earlier, due to higher operating costs. The results, in line with analysts’ expectations, come exactly one month after controlling shareholder Silvio Berlusconi lost national elections, forcing […]

  • 'Counterpart' and 'Howard's End' FYC event

    J.K. Simmons Teases James Cromwell on 'Counterpart,' 'Howards End' Team Talks #MeToo at FYC Event

    Dominant Italo commercial broadcaster Mediaset posted a sharp drop in net profit of E145.1 million ($185.1 million) for the first quarter of 2006, down from $253.4 million a year earlier, due to higher operating costs. The results, in line with analysts’ expectations, come exactly one month after controlling shareholder Silvio Berlusconi lost national elections, forcing […]

  • 'Adrift' film premiere

    'Adrift' Team Talks Making a 'Female Superhero' on the Open Ocean

    Dominant Italo commercial broadcaster Mediaset posted a sharp drop in net profit of E145.1 million ($185.1 million) for the first quarter of 2006, down from $253.4 million a year earlier, due to higher operating costs. The results, in line with analysts’ expectations, come exactly one month after controlling shareholder Silvio Berlusconi lost national elections, forcing […]

  • HBO's 'SUCCESSION

    Why Brian Cox Says Wealthy Family Drama 'Succession' Is Both Timeless and Timely

    Dominant Italo commercial broadcaster Mediaset posted a sharp drop in net profit of E145.1 million ($185.1 million) for the first quarter of 2006, down from $253.4 million a year earlier, due to higher operating costs. The results, in line with analysts’ expectations, come exactly one month after controlling shareholder Silvio Berlusconi lost national elections, forcing […]

  • Gracie Awards

    Rita Moreno Celebrates Female Empowerment at Gracie Awards: 'It's About Damn Time'

    Dominant Italo commercial broadcaster Mediaset posted a sharp drop in net profit of E145.1 million ($185.1 million) for the first quarter of 2006, down from $253.4 million a year earlier, due to higher operating costs. The results, in line with analysts’ expectations, come exactly one month after controlling shareholder Silvio Berlusconi lost national elections, forcing […]

  • global women's rights awards

    Nina Shaw, Laura Dern Stress Importance of Intersectionality in Time’s Up Movement

    Dominant Italo commercial broadcaster Mediaset posted a sharp drop in net profit of E145.1 million ($185.1 million) for the first quarter of 2006, down from $253.4 million a year earlier, due to higher operating costs. The results, in line with analysts’ expectations, come exactly one month after controlling shareholder Silvio Berlusconi lost national elections, forcing […]

  • 'A Kid Like Jake' film premiere

    'A Kid Like Jake': Jim Parsons, Claire Danes Talk Making 'Honest' and 'Relatable' Story About Young Trans Identity

    Dominant Italo commercial broadcaster Mediaset posted a sharp drop in net profit of E145.1 million ($185.1 million) for the first quarter of 2006, down from $253.4 million a year earlier, due to higher operating costs. The results, in line with analysts’ expectations, come exactly one month after controlling shareholder Silvio Berlusconi lost national elections, forcing […]

More From Our Brands

Access exclusive content