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As of 8:10 PM 09/16/14 All times are local (Market data is delayed by at least 15 minutes).

mediaset spa (MDIEF) Key Developments

Vivendi Reportedly Eyes 11% Stake In Reti Televisive Italiane

Vivendi Société Anonyme (ENXTPA:VIV) is looking to acquire 11% stake in R.T.I. - Reti Televisive Italiane S.p.A. from Telefónica, S.A. (CATS:TEF), Bloomberg reported citing people familiar with the matter. Vivendi Société Anonyme could further increase its stake in R.T.I. - Reti Televisive Italiane S.p.A. controlled by Mediaset SpA (BIT:MS) and seek synergies with Telecom Italia S.p.A. (BIT:TIT). Telefónica, S.A. has the right to sell back its 11% stake in R.T.I. - Reti Televisive Italiane S.p.A. if it finds another partner for the business. Vivendi Société Anonyme declined to comment.

Mediaset SpA Presents at Goldman Sachs 23rd Annual Communacopia Conference, Sep-10-2014

Mediaset SpA Presents at Goldman Sachs 23rd Annual Communacopia Conference, Sep-10-2014 . Venue: Conrad New York: 102 North End Avenue, New York, NY 10281, United States.

CANAL + Reportdly Eyes Stake In R.T.I. - Reti Televisive Italiane

CANAL + SA, arm of Vivendi Société Anonyme (ENXTPA:VIV) is also in discussions to acquire majority stake in R.T.I. - Reti Televisive Italiane S.p.A., a unit of Mediaset SpA (BIT:MS), some of the sources said. The business could ultimately be merged into Telecom Italia S.p.A. (BIT:TIT), the sources said. Deutsche Bank is advising Vivendi on Mediaset Premium and Barclays is working Al Jazeera Media Network, one of the sources said. "The ultimate game is the merger between Mediaset and Telecom Italia," said one source. Mediobanca was advising Telecom Italia on the prospective tie-up, sources said. Bloomberg had reported that Telecom Italia was pursuing an alliance with Vivendi and could take a "significant" stake in it in exchange for GVT.

Mediaset To Sell Stake in Premium

Mediaset SpA (BIT:MS) is looking for a partner to buy a stake in R.T.I. - Reti Televisive Italiane S.p.A. (Premium). Al Jazeera Media Network andVivendi Société Anonyme (ENXTPA:VIV) are among the potential bidders, a person familiar with the matter has said. Deputy Chairman Pier Silvio Berlusconi met Vivendi Chairman Vincent Bollore last week in Milan to discuss a possible investment in the Italian pay-TV service, news agency Radiocor reported.

Mediaset Reports Consolidated Earnings Results for the Second Quarter and First Half Ended June 30, 2014; Provides Earnings Guidance for 2014

Mediaset reported consolidated earnings results for the second quarter and first half ended June 30, 2014. For the quarter, the company reported consolidated net revenues of EUR 904.0 million against EUR 905.3 million for the same period in the last year. EBITDA was EUR 345.5 million against EUR 337.9 million for the same period in the last year. Operating profit (EBIT) was EUR 79.9 million against EUR 80.2 million for the same period in the last year. Profit before taxation was EUR 5.8 million against EUR 57.0 million for the same period in the last year. Net income from operations was EUR 3.0 million against EYR 33.9 million for the same period in the last year. Loss for the company was EUR 8.1 million against profit for the company of EUR 20.8 million for the same period in the last year. Clearly, the second quarter has been affected not only by the EUR 150 million free cash flow generation, but also the cashing of the 25% stake in EI Towers that it sold at the beginning of the quarter. For the first half year, the consolidated net revenues of the group came to EUR 1,724.8 million, compared with EUR 1,737.3 million in the first half of 2013. The group's EBIT came to EUR 109.5 million, compared with EUR 133.6 million in the same period of the previous year. The net loss, attributable to the group, amounted to EUR 20.5 million compared with a net profit of EUR 30.1 million in the first half of the previous year. This figure was impacted by a EUR 12.3 million write-down of the value of the stake in Digital Plus for the non-conditioned component of the price established by the agreement for the sale to Telefonica SA. The group's net debt went down from EUR 1,459.0 million at 31 December 2013 to EUR 1,026.4 million on June 30, 2014 due to a characteristic cash generation (free cash flow) of EUR 165.2 million, in a first half that was negative for the market, and the receipt of EUR 280.2 million from the sale of a stake in EI Towers that was completed in the second quarter. EBITDA was EUR 668.3 million against EUR 659.4 million for the same period in the last year. Profit before taxation was EUR 8.4 million against EUR 94.2 million for the same period in the last year. Net income from operations was EUR 1.1 million against EYR 53.4 million for the same period in the last year. Moving to the Italian business P&L, and looking at all the lines below the operating profit and looking at the year end, the company confirmed the EUR 70 million target for the full year 2014. And also as far as tax is concerned, the company confirmed its guidance of having a 55% tax rate in case of profit before tax in line with last year one.

 

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