UPDATE 1-Spain's Prisa H1 net profit beats forecasts

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MADRID, July 23 (Reuters) - Spanish media company Prisa (PRS.MC: Quote, Profile, Research, Stock Buzz) beat forecasts with an 18.6 percent jump in first-half net profit thanks to strong advertising revenues and the inclusion of acquisitions.

Prisa, which publishes newspaper El Pais and owns broadcaster Sogecable, said net profit for the six months to end-June rose to 86.9 million euros ($136.7 million), well above the 74.3 million average forecast from a Reuters Estimates poll of six analysts.

Sales rose 8.8 percent to 2.01 billion euros compared with a survey average of 1.96 billion and core earnings (EBITDA) rose 7.1 percent to 405.7 million euros, beating a Reuters Estimates forecast of 373 million.

Closely-watched ad revenues were 4.6 percent higher thanks to a 22.3 percent jump in the contribution from free-to-air channel Cuatro which showed Spain's victorous Euro 2008 soccer campaign that drew record audiences.

Total debt rose to 5.1 billion euros from 3.1 billion after it bought the remainder of Sogecable. Last week it closed the refinancing of a 2 billion euros bridging loan for the acquisition of the broadcaster.

The company is due to hold a conference call on Thursday when analysts will be listening out for details of the company's restructuring plans, including the possible sale of pay-TV unit Digital+.

The pay-TV channel's subscriber base rose by 13,000 during the six month period to 2.078 million -- 1,000 more than over the same period last year -- and revenues as a result increased 1 percent to 593.1 million euros.

Meanwhile sales of newspapers and magazines grew 5.0 percent as El Pais increased circulation by 4.2 percent and sports paper AS increased sales by 6.1 percent. (Reporting by Ben Harding; editing by Sonya Dowsett; Editing by David Cowell)