BRIEF-Sky deal will improve Mediaset Italian EBIT by 60-70 mln per year - CFO
April 24 (Reuters) - Mediaset Chief Financial Officer Marco Giordani says:
* IMPLEMENTATION OF GROUP’S INDUSTRIAL PLAN IS “WELL-AHEAD OF EXPECTATIONS”, ESPECIALLY IN RELATION TO PAY-TV
* DEAL WITH SKY ITALY UNIT WILL IMPROVE GROUP’S ITALIAN EBIT BY 60-70 MILLION EUROS PER YEAR, EFFECT ON 2018 WILL BE HALVED GIVEN TIMING OF DEAL
* HAS BEEN IN CONTACT WITH TELECOM ITALIA, BUT ONLY DISCUSSING RETRANSMISSION OF FREE TO AIR RIGHTS
* DEAL WITH SKY ITALY UNIT DOES NOT AFFECT FINANCIAL RESULTS OF TOWER COMPANY EI TOWERS
* COST SAVINGS FROM SKY DEAL ALREADY INCLUDED IN GROUP’S 2020 INDUSTRIAL PLAN, NOT GOING TO CHANGE COST REDUCTION GUIDANCE
* SAYS REVENUES FOR PAY-TV WILL START DECLINING FROM JUNE AFTER END OF SOCCER PACKAGES
* SAYS WORST CASE SCENARIO FOR PAY-TV UNIT IS TO LOSE 7/12 OF PREVIOUS YEAR’S REVENUES Further company coverage: (Reporting by Milan newsroom)