May 14, 2019 / 4:16 PM / 2 months ago

Mediaset's first-quarter Italian ad revenue falls 4%, outlook flat

FILE PHOTO: The Mediaset tower is seen in Cologno Monzese neighbourhood Milan, Italy, April 7, 2016. REUTERS/Stefano Rellandini/File Photo

MILAN (Reuters) - Italy’s largest commercial broadcaster Mediaset reported a 4% fall in first-quarter domestic advertising revenues to 483.6 million euros, after the company gave up its Italian and international soccer rights.

The fall was in line with an analyst consensus of 483.5 million euros, according to data provided by Refinitiv.

“At the moment, the trend in advertising sales in Italy in the second quarter, on a comparable basis ... are expected to remain in line with those of the first quarter,” the group, controlled by former Prime Minister Silvio Berlusconi’s holding company Fininvest, said in its financial result statement

Mediaset’s group earnings before interest and tax (EBIT) jumped almost three-fold to 78.5 million euros in the three months ended in March.

Reporting by Elvira Pollina, editing by Mark Bendeich

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