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MFE nine-month profit lifted by ProSieben integration, faster cost cuts

By Reuters News

COLOGNO MONZESE, Italy, Nov 11 (Reuters) - MFE-MediaForEurope MFEB.MI said its nine-month adjusted operating profit rose to €110 million from a pro forma loss of €23 million a year earlier, thanks to cost benefits stemming from the acquisition of German broadcaster ProSiebenSat.1 PSMGn.DE, CEO Pier Silvio Berlusconi said on Wednesday.

European broadcaster MFE will report its nine-month earnings on Nov.18.

The result was mainly driven by the integration of the German broadcaster, with cost savings progressing faster than expected, while the advertising market remained challenging, Berlusconi said during a press conference at the company's headquarters.


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