Berlusconi's Mondadori publishing group plans to cut 600 jobs
Italian Prime Minister Silvio Berlusconi is also feeling the effects of the crisis. His publishing group, Mondadori, plans to cut 600 jobs.
The Milan-based company plans to cut 21 percent of its workforce by 2011, as reported by SDA on Friday. 144 employees had already left the group in 2008. The job cuts will also affect France, where Mondadori recently made its debut with the women's magazine Grazia France.
Berlusconi's TV company Mediaset also came under pressure. In the first three quarters of 2009, the Group halved its net profit, which fell from 355.8 million euros in the same period of 2008 to 184.2 million euros. Turnover fell by 11.4 percent to 2.652 billion euros. The only consolation for the Prime Minister was that the decline in advertising revenue had less of an impact on the TV company led by Berlusconi's son Piersilvio than its competitors. Mediaset was therefore able to consolidate its market share.
The Milan-based group confirmed its leading position among Italian private channels. With a daily audience share of 22.3%, Canale 5 is the most-watched channel in Italy. The company also takes comfort from the growth in sales in the pay-TV sector.
Berlusconi's TV company Mediaset also came under pressure. In the first three quarters of 2009, the Group halved its net profit, which fell from 355.8 million euros in the same period of 2008 to 184.2 million euros. Turnover fell by 11.4 percent to 2.652 billion euros. The only consolation for the Prime Minister was that the decline in advertising revenue had less of an impact on the TV company led by Berlusconi's son Piersilvio than its competitors. Mediaset was therefore able to consolidate its market share.
The Milan-based group confirmed its leading position among Italian private channels. With a daily audience share of 22.3%, Canale 5 is the most-watched channel in Italy. The company also takes comfort from the growth in sales in the pay-TV sector.

