MILAN (Reuters) -MFE-MediaForEurope, the commercial broadcaster controlled by Italy's Berlusconi family, on Thursday beat forecasts with a marginal increase in nine-month operating profit as lower costs offset falling advertising sales. However, the company stuck to a forecast for a positive operating result and cash flow this year and confirmed an encouraging sales trend for the final quarter, crucial for broadcasters as they strive to capture corporate advertising spending in the run-up to Christmas.
MILAN (Reuters) -The Berlusconi family has never discussed selling out of MFE-MediaForEurope and the company remains committed to expanding its European television business, MFE Chief Executive Pier Silvio Berlusconi told reporters. The CEO was addressing merger and acquisition speculation that boosted shares in MFE following the death of his father, company founder Silvio Berlusconi, last month. The Berlusconi family's Fininvest company holds 48.5% of the share capital of MFE, the company formerly known as Mediaset.