Revenue, profits jump for Vocento in '07
EmptyMADRID -- Spanish media group Vocento on Thursday reported a 5.6% spike in profit for 2007, netting 82.2 million euros ($127 million).
Revenue climbed 5.2% to 918 million euros ($1.4 billion), though EBITDA dropped 13.8% from the previous year to 90.1 million euros ($137 million) in 2007.
In January, Vocento unveiled a strategic plan to increase value in its holdings and strengthen its position in the television sector. In February, Disney took a 20% stake in the Vocento-controlled DTT channel NET TV.
Vocento owns a 13% stake in Spain's most profitable broadcaster, Telecinco. The group, which owns a dozen newspapers in Spain, must choose between its two television stakes before the 2010 analog blackout in Spain.