Indebted Spanish media group Prisa , owner of the country's best-read generalist newspaper El Pais, said on Thursday that losses widened nearly 50 percent in the first quarter from a year ago to 12 million euros ($15.7 million).
_0">Falling advertising revenues in Europe have been squeezing Prisa in the past year, despite growth in Latin America.
Prisa, which has television, radio and publishing assets across Europe and Latin America, said advertising revenue fell by 10.9 percent in the first quarter compared to a year ago.
Earnings before interest, tax, depreciation and amortisation (EBITDA) fell 25 percent from a year ago to 78.4 million euros.
The company, which said its net bank debt stood at just over 3 billion euros at the end of the first quarter, made a full year loss of 255 million euros in 2012. ($1 = 0.7637 euros) (Reporting by Sarah White; Editing by Julien Toyer)