Mediaset wants a bigger slice of pay-TV

01-06-2009

Mediaset’s CFO Marco Giordani says the growing pay-TV division of his – up to now – free-TV broadcasting business in Italy, is looking to take 15% of the local pay-TV market, winning the slice from Sky Italia. Mediaset, Italy’s biggest broadcaster, is controlled by the family interests of Italian prime minister Silvio Berlusconi.

"The objective is to arrive at 15% (from 2-3% in 2008). When we started Sky Italia was at 100%," Giordani told journalists. “The follower has to grow more than the incumbent otherwise it won't be able to reach a satisfying market share," he added.

Mediaset, which dominates Italian free broadcasting along with state-owned RAI, saw its net profit halved to €60m ($84m) in the first quarter. It has predicted a lower 2009 net and operating result than a year earlier. Giordani said Mediaset would continue to focus on "product quality". He reiterated it had enough financial strength to allow it to look at possible acquisitions outside Italy.