RCS MediaGroup S.p. A reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. The group's consolidated net revenue is EUR 285.3 million compared to 343.2 million in the first quarter of 2012: the change of EUR 57.9 million is primarily due to the drop in advertising and circulation revenue, significantly affected by the reference market trends. The company reported LBITDA of EUR 115 million, LBIT of EUR 134.2 million, LBT of EUR 143.6 million, loss from continuing operations of EUR 109.7 million, loss of EUR 107.1 million against LBITDA of EUR 7 million, LBIT of EUR 27.8 million, LBT of EUR 39.7 million, loss from continuing operations of EUR 31.6 million, loss of EUR 27.3 million a year ago. Net financial debt related to continuing operations was EUR 875.6 million against EUR 845.8 million a year ago. For fiscal 2013, revenue is forecast to decrease (single digit percentage) in 2013, EBITDA before non-recurring items should be positive and less then 3% of revenue and - in part due to the expense for the restructuring process currently underway mostly incurred in the first quarter - a significant loss is expected for the year.

RCS MediaGroup S.p.A (BIT:RCS) has decided not to go for block sale of 10 magazines, rather would sell them in pieces. Pietro Scott Jovane, Chief Executive Officer of RCS MediaGroup, said that RCS MediaGroup has abandoned the idea for block sale of 10 magazines and will try to sell in pieces the editions considered no longer strategic. According to financial sources, the block sale of the 10 magazines has failed as the offers submitted were considered inadequate. RCS will now put up for sale single editions including Novella 2000, Max, l’Europeo and Astra. It has also warned that nine out of 10 editions risk to be stopped if the publisher does not find a buyer for them by end of June 2013.

Urbano Cairo of Cairo Communication SpA (BIT:CAI) said that he was not interested anymore in buying the ten periodic magazines put up for sale by RCS MediaGroup S.p.A. (BIT:RCS).