Fininvest, Mr Berlusconi which owns 63.3% (while the remainder is owned by its five children) on June 18 reported a net profit of € 242m for 2008 and cash of € 729m at year end. Although Mediaset has been trying to find new sources of revenue, continues to be dependent on advertising, which accounted for 75% of total revenues of € 3.3 billion with Italians in 2008. Advertising is dried in a recession, causing Mediaset revenues decreased by 12% in the first quarter and its net profit by 50%. Mondadori last October announced the sale of 80% of his arm and the press is trying to further streamline its business. The main activities of Mediolanum, the third-pillar banking Fininvest, the mutual funds and insurance life have been weakened by the global crisis . Between the end of 2007 and the end of last year, assets under its management in Italy decreased from € 27.4 billion to 23.9 billion €, while the new business of insurance slip from € 3, 4 billion to € 2.7 billion. abroad, the decline is even worse: the assets under management in Spain and Germany fell from 2.7 billion € to € 1.7 billion. In April 2001, shortly before parliamentary elections, which Mr Berlusconi won, Mediaset had the equivalent value of € 6.8 billion. His interests in Mediaset, Mondadori and Mediolanum now have a value of about € 3.1 billion. Source: economist.com / yesterday