MILAN, April 19 (Reuters) - Italian private broadcaster Mediaset said on Wednesday the failed sale of its pay-TV unit Premium to France’s Vivendi hit the group’s 2016 accounts by 341.3 million euros ($365 million).
In July 2016 Vivendi pulled out of a 800-million euro contract that would give it full control of Premium, claiming the unit’s business plan was unrealistic.
Milan-based Mediaset said the U-turn by the French media group resulted in “a series of extraordinary one-off charges” amounting to 269.3 million euros at the operating profit level, bogged down further by an additional loss of 72 million euros.
It did not elaborate further.
Despite posting a 2016 operating loss of 189.2 million euros, the broadcaster, whose top shareholder is the family of former prime minister Silvio Berlusconi, said it expected to return to profit in 2017. ($1 = 0.9341 euros) (Reporting by Giulia Segreti; editing by Agnieszka Flak)