Leading Italian commercial broadcaster Mediaset has registered encouraging first quarter results for 2000 thanks in part to an alliance with Germany’s Kirch Group.

The financial results of the Milan-based TV holding, approved on May 15 by Mediaset’s administrative council, reflect for the first time the impact of the 50 per cent equity stake in production and acquisitions company the Epsilon group, Mediaset’s and Kirch Media Group’s joint venture (Interspace 691).

Consolidated net gains for the first three months of this year increased by 17.7 per cent, from L1,019.1 billion (E526 million) during the first quarter of 1999 to L1,199.3 billion this year.

Operating results increased to L453,9 billion compared to L310.3 billion of the first three months of 1999, an increase of 46.3 per cent. EBITDA increased by 40,4 per cent, from L313.9 to L440,6 billion. Operative costs increased from L413,6 to L439.5 billion, including the L18.7 billion due to the consolidation of the Epsilon group. Positive results were also registered from international activities.

Besides Epsilon, which recently started up activities and is not yet fully operative, Spanish broadcaster Telecinco continues to register successes. Operative profitability reached 33.2 per cent (from 20.9 per cent in March 1999), while net gains reached Pts4.9 (E29 million), with an increase of 146 per cent.