High-quality sports coverage could be key for media companies looking for a profit pick-up, the CEO of RCS MediaGroup told CNBC on Tuesday.
RCS MediaGroup is based in Milan and listed on the Italian stock exchange. The media conglomerate is valued at 615.5 million euros ($660 million) and operates in newspapers, magazines, book publishing, radio, online and satellite television. Its closest national rival is Grupo Editoriale L'Espresso, which is valued at 500.5 million euros, and its flagship brands include Italy's "Corriere della Sera" and Spanish newspaper "El Mundo."
On Tuesday, RCS MediaGroup Chief Executive Pietro Scott Jovane told CNBC that exclusive programming had helped the company become Europe's "third-largest sports business in terms of quality content."