Former premier Silvio
Berlusconi's Mediaset group posted losses of 116.6 million euros
in the first three quarters this year, up from being 36.1
million euros in the red in the same period last year.
The media conglomerate said it incurred 50 million euros in
extraordinary expenses due to "commitments taken on with the
signing of a contract" to spin off its Premium pay TV division
to French media multinational Vivendi.
Vivendi has backed out of the deal to take full control of
Premium first announced in April, citing "unrealistic" budget
assumptions and sparking lawsuits.
Also on Tuesday, Mediaset posted revenue of 2.563 million
euros, up by 149 million euros compared to the first nine months
of 2015, and EBITDA of 892.9 million euros, up from 871.4
million euros in the same period last year.
Weighing on the company balance sheet was a
91.4-million-euro investment in the first quarter to buy back
shares in Mediaset Espana that brought its net financial debt
from 859 million euros as of December 31, 2015, to 1.123 million
euros as of September 30 this year.
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