Rai set to lose €70m by year end

Italian public broadcaster Rai has estimated that it will lose up to €70m this year.

The broadcaster has blamed the economic crisis and, in particular, weak advertising sales, for the poor financial results. However, general director Mauro Masi told local press that the channel has continued support from the government, although losses are expected to continue to increase as a result of the associated costs of airing the 2010 World Cup.