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Mediaset returns to profit in 2013

Italian commercial broadcaster Mediaset returned to net profit of €8.9 million in 2013, compared with a loss of €282.1 million the previous year, as a result of cost cutting measures.

Consolidated net revenue was €3.4 billion (€3.7 billion in 2012), with positive EBIT of €246.3 million, compared to a negative €35.4 million in 2012.

Earnings at pay-TV unit Mediaset Premium were up 6.6 per cent to €552 million, while earnings of network operator EI Towers were unchanged at €233 million.

Commenting on the project for the merger of pay-TV operations in Italy and Spain, CFO Marco Giordano said that synergies, opportunities and benefits are still in the phase of evaluation. Asked by journalists on possible interest by Al Jazeera in a partnership in the pay-TV segment, Giordano answered they had no comment.

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