Mediaset Espana nine-month profit falls 45 percent
MADRID Oct 30 (Reuters) - Broadcasting group Mediaset Espana said on Wednesday its nine-month net profit shrank over 45 percent, compared with the same period a year earlier, to 22.1 million euros as advertising revenue dropped in a weak Spanish economy.
The bottom line was also hit by impacts from acquisitions.
Revenues at Mediaset fell just over 7 percent percent to 584 million euros, however lower costs helped boost core profit, or earnings before interest, taxes, depreciation and amortisation (Ebitda) by 42 percent to 57.6 million euros ($79 million).
The TV group, whose flagship channel Telecinco is Spain's most-watched free-to-air TV station, is 40 percent owned by Italy's Mediaset. ($1 = 0.7262 euros) (Reporting by Sarah White, Editing by Fiona Ortiz)