ProSieben expects TV advertising revenues to slump again in June
The corona crisis is hitting ProSiebenSat.1 with full force. In April and May, TV advertising revenues slumped by around 40 percent, the new head of the TV group, Rainer Beaujean, told journalists on Wednesday shortly before the virtual Annual General Meeting.
"We don't expect any dramatic improvement for June either," he continues. The trend will be similar to the previous two months.
Beaujean initially made little comment on the harsh criticism from investors, who had called for a growth strategy and, in some cases, his replacement in the medium term. The CEO, who is also CFO, confirmed that the company intends to focus more strongly on the entertainment and TV business again. The major Italian shareholder Mediaset recently called on Beaujean with unusually harsh words to present a growth strategy.
As part of the Group's restructuring, the television group wants to float its dating division on the stock market. This is planned for 2022, said Beaujean. The aim is to merge investments of the e-commerce subsidiary NuCom - such as the Parship Group with its brands Parship, ElitePartner and eharmony - with the US company Meet Group, which was recently acquired for half a billion dollars. (SDA)
