Mediaset profits rise 5%

News underlines recovery in Italy's broadcast market

MILAN — The growing recovery in the Italo broadcast market was underlined Tuesday with news that nine-month net profits at top commercial broadcaster Mediaset rose 5% to €193 million ($267 million) on the back of higher advertising revenues.

Group, controlled by Prime Minister Silvio Berlusconi, said pay TV unit Mediaset Premium had reached a quarterly operating breakeven despite fierce competition from Rupert Murdoch’s rival paybox Sky Italia.

Mediaset’s combined pay TV earnings from top-up cards and subscriptions for the first nine months leapt 61% to $474 million from $293 million.

The group expects TV advertising sales growth to continue through the remainder of the year.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety