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  European pay TV has thus far weathered the continent’s deepening recession caused by the Euro debt crisis, except in the southern states of Italy, Spain and especially Greece at the center of the storm. But, Free To Air broadcasters directly exposed to the economy through their reliance on advertising revenue have been much harder hit. Italy's largest private broadcaster, Mediaset, saw advertising revenue decline 10 percent to €623 million in the first quarter of 2012, and says it has continued at this level in the second quarter....More