Mediaset profits in rise

Total revenues rose to $6.25 billion

By NICK VIVARELLI

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Fiscal 2007 net profits at Italian commercial broadcaster Mediaset posted were E506.8 million ($776.4 million), only slightly above its 2006 results due to a tax hike that offset the web's ratings rise and its increased ad sales, the company announced Tuesday.

Total net revenues rose to $6.25 billion from $5.75 billion in 2006. Debt, however, doubled to $1.8 billion due to Mediaset's purchase of a 33.3% stake in Dutch content giant Endemol and its merger with sister company Medusa Cinema.

Silvio Berlusconi-owned Mediaset's three channels lead in Italy's key 15-64 demographic with an average 42.5% primetime share and a 42.7% daytime share.

Its flagship Canale 5 station is Italy's primetime champ with a 23.3% share, thanks largely due to its self-produced dramas, with a boost from "Big Brother" and "House."

Fastest growth area is nascent premium DTT pay TV service, which saw revenues more than double to $346 million and its client base grow to more than 2.4 million.