Mediaset chairman sees growth in 2007, confirms to book ad revenues in 2007 |
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Published
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Fri, 02 Mar 2007 17:50
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MILAN (AFX) - Mediaset SpA chairman Fedele Confalonieri said 2007 will 'surely be a year of growth', supported by advertising revenues that it has been advised to book in 2007, rather than 2006.Confalonieri confirmed broker comment that it moved 90 mln eur of advertising revenues that it had planned to book in 2006, to 2007 instead.'We had so many opinions from illustrious specialists (on when to book the sales) that we have not done it in order not to create problems,' he said.Confalonieri said this was the most 'prudent and transparent' act possible, but it thus has a 3.6 pct fall in advertising in its results for 2006.However, he added the company already has the cash to cover this.In November, Mediaset had said it expected flat advertising sales in Italy in the full year, compared to 2005, while in preliminary results yesterday, these sales actually fell 3.6 pct.Earlier chief executive Giuliano Adreani said three major long-term contracts were signed in 2006, and that the contracts will now be booked as 2007 sales.Analysts said the 15-month contracts were signed in October.nigel.tutt@thomson.comnt/cmlCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Mediaset's Adreani says 2007 advertising revenues to benefit from 2006 contracts 