By Manuela Mesco
MILAN--Italian publisher RCS Mediagroup SpA (RCS.MI) said
Wednesday it will need significant capital to finance its new
2012-2015 development plan.
The company said in a statement that it will need 300 million
euros ($395.5 million) in investments to support the plan, which
aims at a stronger presence abroad and increasing digital
activities, whose contribution should reach around 25% of global
revenue.
The Italian publisher, which owns Il Corriere Della Sera, one of
the most influential dailies in the country, also said it will
dismiss non-core activities and will put in place a cost-cutting
plan, but didn't offer further details on this.
RCS also said it aims to achieve total revenue of around EUR1.6
billion by 2015. Revenue for the first nine-months of 2012 stood at
EUR1.18 billion.
RCS Mediagroup's stakeholders include among others Fiat SpA
(F.MI), Assicurazioni Generali (G.MI), Intesa Sanpaolo (ISP.MI),
Mediobanca (MB.MI).
Write to Manuela Mesco at manuela.mesco@dowjones.com
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