Cairo turns profit at La7, plans new channels
The new owners of La7 have managed to turn around the fortunes of the Italian national broadcaster, after purchasing it from Telecom Italia Media in March 2013.
According to the financial report of the Cairo Communications group for the H1 2014, La7 achieved a gross operating profit (EBITDA) of €4.9 million, compared to a loss of €28.7 million in the same period of 2013, and of €62.9 million for the entire 2012. The average audience share in the period was 3.6 per cent, with peaks of 4.24 per cent in prime time.
Cairo Network participated in the race for the digital TV frequencies issued by the Ministry of Economic Development, winning the rights to a digital multiplex for 20 years. Shortly after the group allied itself with tower operator Ei Towers, belonging to the Berlusconi family, with the goal of building and operating the new multiplex.
Cairo Communications plans to launch new channels by the end of 2015, according to company owner, Urbano Cairo. The multiplex will be operational from January 2015, achieving 90 per cent coverage by the end of the year, rising to 95 per cent by mid-2016.