April 24, 2018 / 5:09 PM / 7 months ago

BRIEF-Sky deal will improve Mediaset Italian EBIT by 60-70 mln per year - CFO

April 24 (Reuters) - Mediaset Chief Financial Officer Marco Giordani says:

* IMPLEMENTATION OF GROUP’S INDUSTRIAL PLAN IS “WELL-AHEAD OF EXPECTATIONS”, ESPECIALLY IN RELATION TO PAY-TV

* DEAL WITH SKY ITALY UNIT WILL IMPROVE GROUP’S ITALIAN EBIT BY 60-70 MILLION EUROS PER YEAR, EFFECT ON 2018 WILL BE HALVED GIVEN TIMING OF DEAL

* HAS BEEN IN CONTACT WITH TELECOM ITALIA, BUT ONLY DISCUSSING RETRANSMISSION OF FREE TO AIR RIGHTS

* DEAL WITH SKY ITALY UNIT DOES NOT AFFECT FINANCIAL RESULTS OF TOWER COMPANY EI TOWERS

* COST SAVINGS FROM SKY DEAL ALREADY INCLUDED IN GROUP’S 2020 INDUSTRIAL PLAN, NOT GOING TO CHANGE COST REDUCTION GUIDANCE

* SAYS REVENUES FOR PAY-TV WILL START DECLINING FROM JUNE AFTER END OF SOCCER PACKAGES

* SAYS WORST CASE SCENARIO FOR PAY-TV UNIT IS TO LOSE 7/12 OF PREVIOUS YEAR’S REVENUES Further company coverage: (Reporting by Milan newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below