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Telecom Italia Media TV Advertising Profit Expected to Rise

By Manuela Mesco MILAN--Advertising profit in the first half of 2012 for its free-to-air television channels is expected to increased by 16% on the year, Telecom Italia Media SpA (TME.MI) Chief Executive Giovanni Stella said Thursday. The CEO said the rise is due to its significant investment in bringing big names to its channels. Mr. Stella declined to comment on the sale of all TI Media's television channels and frequencies. "It's something that Telecom Italia is dealing with. We received interest for both frequencies and channels but they will be probably sold separately," he said. Last week, the company received 15 initial expressions of interest for the 77% stake, according to an initial report by advisers Mediobanca (MB.MI) and Citigroup Inc. (C). Write to Manuela Mesco at manuela.mesco@dowjones.com

Stock News for Citigroup (C)
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