ProSiebenSat.1, the German media group controlled by the Berlusconi family's MFE-MediaForEurope, reported higher earnings for the first nine months of 2026 even as revenue declined, Variety reported, citing company results¹.

Revenue from January through September was €2.24 billion ($2.48 billion), down €271 million, or 11 percent, from a year earlier; excluding currency swings and portfolio changes, the drop was 3 percent¹. EBITDA rose to €198 million from €39 million, and EBIT turned positive at €73 million, a €180 million improvement¹.

Third-quarter revenue fell 15 percent to €701 million, or 4 percent on an organic basis¹. Variety said the quarter showed a tougher advertising market than when the company reported second-quarter results on Aug. 6, when organic group revenue was down 2 percent¹. Entertainment external revenue slid 7 percent over nine months, which the company attributed to advertisers' reluctance to spend, especially on TV¹. Streamer Joyn's ad-supported revenue rose 9 percent and subscription revenue rose 20 percent¹.

Programming costs dropped €126 million to €588 million for the nine months, mainly because of a change in amortization policy announced in the first half, Variety reported¹. Savings from last year's restructuring also fed into the earnings gain¹. Commerce & Dating external revenue fell 16 percent, reflecting portfolio effects including the sale of Studio71 US; organically it was up 6 percent, led by flaconi¹.

Net financial debt was €1.54 billion on Sept. 30, up from €1.34 billion at the end of 2025, with leverage at 3.4 times¹. On Oct. 29, ProSiebenSat.1 cut its forecast for organic group revenue to a slight decline for the year, from slight growth, while still forecasting a substantial EBITDA increase versus 2025¹. MFE took a 75.61 percent stake last year through a takeover offer that valued the group at about €1.8 billion; Marco Giordani is group CEO¹.