Mediaset reports nine-month loss of 27.3 mn euros

(ANSA) – Milan, November 12 – Media giant Mediaset closed the first nine months of 2013 with a net loss of 27.3 million euros, a better result than the loss of 45.9 million euros reported during the same period last year, the company said Tuesday.

Revenues fell to 2.39 billion euros from the 2.655 billion euros recorded in the first nine months of 2012, but the group owned by ex-premier Silvio Berlusconi said it expected an improvement ahead in advertising revenues and increased cost cuts.

Earnings before interest and taxes (EBIT) reached 109.6 million euros, up from the 46.9 million euros reported during the same period in 2012.