Revenue dips 12%

Mediaset, the broadcaster controlled by Italian Prime Minister Silvio Berlusconi, saw its advertising revenues fall 12% in the first quarter. “April, May and June will probably be better than the first three months of the year,” the group’s advertising chief, Giuliano Adreani, told reporters at the annual shareholders meeting Wednesday.

Meanwhile, renewed market rumors that Mediaset may be interested in buying ITV sent the share price of the ailing Blighty broadcaster up 12%. Neither Mediaset chairman Fedele Confalonieri nor ITV would comment on the speculation.

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