Share price plunges dramatically: Premiere has to go over the books
TV broadcaster Premiere has shocked the stock market with the announcement of a loss and the admission of inflated customer figures. At the end of last week, the pay-TV station's share price fell by 52.75 percent.
The TV broadcaster Premiere shocked the stock market with the announcement of a loss and the admission of excessive customer numbers.
At the end of last week, the pay-TV station's share price fell by 52.75 percent. This came after Premiere announced last Thursday that the broadcaster would have to reduce its customer base by 940,000. They had either never activated their subscriptions or their contracts had expired. Premiere actually has a good 2.4 million direct subscribers and just under 1.2 million customers via various partners.
The subscription broadcaster also announced an operating loss for the current year. After taxes, interest, depreciation and amortization, a loss of 40 to 70 million euros is expected. The channel - a customer of the Vaud-based TV encryption specialist Kudelski - continues to struggle with a loss of customers due to blackouts.
At the end of last week, the pay-TV station's share price fell by 52.75 percent. This came after Premiere announced last Thursday that the broadcaster would have to reduce its customer base by 940,000. They had either never activated their subscriptions or their contracts had expired. Premiere actually has a good 2.4 million direct subscribers and just under 1.2 million customers via various partners.
The subscription broadcaster also announced an operating loss for the current year. After taxes, interest, depreciation and amortization, a loss of 40 to 70 million euros is expected. The channel - a customer of the Vaud-based TV encryption specialist Kudelski - continues to struggle with a loss of customers due to blackouts.
