Media revenues down 32% in 5 yrs, 4,500 jobs lost

(ANSA) - Milan, November 23 - The revenues generated by Italy's nine biggest media groups fell by 32.6% between 2011 and 2015, according to a Mediobanca study released on Wednesday. In that period the groups accumulated net losses of two billion euros and shed 4,500 jobs, taking their combined workforce down to 13,000 employees, the study said. It said the sector suffered more job cuts this year. In the five-year period, sales of daily newspapers dropped by 34%, from 2.8 million to 1.8 million a day.