Turnover is down at Italy's eight leading publishing and media groups, a study by Mediobanca investment bank showed Tuesday. Overall turnover fell 1.9 billion euros to 4 billion euros in the past five years, with losses of 1.8 billion euros. Advertising income fell from 35% to 31% while circulation rose from 36% to 44%.
Among the top three groups, Arnoldo Mondadori Editore S.p.A. outstripped RCS MediaGroup in terms of earnings, posting income of 1.4 billion against RCS' 1.1 billion.
RCS - which owns Il Corriere della Sera paper - holds the largest nationwide daily newspaper market share, or 17.3%. Gruppo Editoriale L'Espresso SpA - owner of La Repubblica newspaper and L'Espresso news magazine among others - has the largest local newspaper market share at 20.3% and is also the only media and publishing groups posting accumulated net profit uninterruptedly from 2010 to 2015, according to Mediobanca.
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