The investigation on alleged tax fraud on the sale of film rights by Italian Prime Minister Silvio Berlusconi's media empire was officially closed by the Milan prosecutors, La Repubblica daily reported on Saturday.
The elements against Berlusconi's company focus on possible irregularities in the film rights sales which might have created illicit funds.
On the basis of the probe, a judge must now decide whether to issue indictments or drop the case all together.
Other than Berlusconi, among those investigated is also his son Pier Silvio Berlusconi, vice president of the family media empire called Mediaset, which owns Italy's three main private television networks and film production companies.
According to Berlusconi's lawyers, the case is "absurd" and " unbelievable" for the company has always respected transparency laws in tax declarations and film rights sales.
"Mediaset reiterates that the film rights that are the object of the investigation were acquired at market prices and that all the balance sheets and tax declarations by the company were done in the most rigorous observance of criteria for transparency and the laws," Mediaset said in a statement.
The trial is one of the two involving Berlusconi which resumed after the high court repealed in October a law granting the prime minister immunity from prosecution.
The premier is involved in another recently resumed trial, where he is accused of bribing British tax lawyer David Mills to perjure himself in two trials in the late 1990s.
Italy has lately been rocked by a fierce battle between the prime minister and the judiciary. The centre-right government recently launched two bills in parliament which critics say are tailor-made to stop Berlusconi's trials.
Berlusconi, who denies wrongdoing and has always claimed he is the victim of a politically inspired witch hunt led by "communist" judges, says the bills are aimed at improving justice for all.