Mediaset posts first losses for 17 years

Italian broadcaster Mediaset has posted its first quarterly loss for 17 years, blaming a tough advertising market for the decline. Losses for the quarter ending September 30 amounted to €88.4 million, compared with a net profit of €1.4 million for the same period last year.

Revenue from Mediaset’s pay TV platform over the first nine months of 2012 were down slightly on the same period last year. Mediaset Premium contributed revenues of €382.4 million for the period, compared with €388.8 million a year earlier.