Mediaset Confirms Breakeven Target For Pay-TV Operations In 2010
CFO
ROME -(Dow Jones)- Mediaset SpA (MS.MI) is still targeting breakeven for its
pay-TV operations in 2010, chief financial officer Marco Giordani said in a
conference call with analysts Tuesday.
"The results we've got in the pay-TV business as of now reinforced our belief
that we'll reach the breakeven in 2010," Giordani said.
Italy's largest commercial broadcaster faces tough competition in its home
market from News Corp.'s (NWS, NWSA) satellite unit Sky Italia and is struggling
to defend its dominant position in the free-to-air TV market following the
slowdown in advertising spending. Mediaset launched its Pay-TV package, Mediaset
Premium, in 2007.
Giordani said the recently announced entrance of rival News Corp. in the
Italian digital terrestrial market with the launch of a new free-to-air channel
is "no big news" for Mediaset. News Corp. owns Dow Jones & Company, which
publishes this newswire.
Mediaset's CFO also said the group is able to afford possible acquisitions "in
the EUR1 billion area," without having financing problems, but added the company
doesn't have any specific deal on the table.
-By Giada Zampano, Dow Jones Newswires; +39 06 69766925; giada.zampano@
dowjones.com
(END) Dow Jones Newswires
11-10-091324ET
Copyright (c) 2009 Dow Jones & Company, Inc.
|