RAI Holding took a dip last year

Cinema unit finishes year $18.9 mil in the black

ROME -- State-owned cinema, television and radio company RAI Holding lost 4.9 million euros ($6.9 million) in 2007, though the RAI Cinema unit finished the year 13.3 million euros ($18.9 million) in the black, according to a report submitted to parliament Wednesday.

Even the positive news from RAI Cinema was tempered by the fact that the results represented a 32% drop from 2006 profit levels.

RAI, one of Italy's two main media companies, is 95.6% owned by the Italian Treasury.