Telecom Italia narrows losses

Telecom Italia Media has posted a narrower net loss of €132 million in 2013 after the sale of two loss-making television channels.

The company, which had posted a loss of 241 million euros in 2012, sold the La 7 and MTV channels in April and September 2013 respectively.

Telecom Italia Media, which is in talks with publisher L’Espresso for a tie-up of their digital broadcasting activities, said revenues in the period were slightly lower at €72.2 million while EBITDA fell 8.5 per cent.

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