Spanish write-down takes Mediaset into the red

Mediaset turned in a net loss of €20.5 million for the first have after taking a write-down of €12.3 million in the value of its Digital+/Canal+ stake in Spain related to the non-conditioned component of the price at which it agree to sell the 22% holding to Telefónica.

The loss compared with a €30.1 million profit in 2013.

Mediaset’s Premium pay TV unit turned in revenues of €274.3 million from card sales, pre-paid recharges and Easy Pay subscriptions, down from €280.2 million last year.

Overall Mediaset turned in revenues of €1.725 million, down from €1.737 million, and EBIT of €109.5 million, down from €133.6 million.