Premiere plans four new channels despite deep red figures
In the first quarter of 2009, the pay-TV broadcaster Premiere nearly tripled its loss. According to figures released by the company on Thursday, the loss rose from 28.1 million euros in the same period a year earlier to 80 million euros. Revenue remained stable at 232.7 million euros.
In the first quarter of 2009, pay-TV broadcaster Premiere almost tripled its loss. According to the company on Thursday, the loss rose from 28.1 million euros in the same period last year to 80 million euros. Turnover remained stable at 232.7 million euros, while the number of subscribers fell from 2.4 million at the end of 2008 to 2.37 million. Premiere continues to expect a considerable operating loss for the current year. The company is not aiming to be in the black until 2011.
The pay-TV station is now to be restructured. According to the press release, four new channels are planned. The new offering is to be officially presented in the coming days. In addition, the channel will operate under the name Sky Deutschland in the future in order to align the offering with Sky's offerings in Italy and the UK. Most of the pay-TV channels of major shareholder News Corp are called Sky. Media entrepreneur Rupert Murdoch's group holds around 30 percent of the Munich-based broadcaster. The renaming is subject to the approval of the Annual General Meeting.
The broadcaster hopes to attract new subscribers under the new name, but is also accepting a high write-down. The depreciation of the old name will reduce the net result for the second quarter by 256.1 million, as Premiere announced.
The pay-TV station is now to be restructured. According to the press release, four new channels are planned. The new offering is to be officially presented in the coming days. In addition, the channel will operate under the name Sky Deutschland in the future in order to align the offering with Sky's offerings in Italy and the UK. Most of the pay-TV channels of major shareholder News Corp are called Sky. Media entrepreneur Rupert Murdoch's group holds around 30 percent of the Munich-based broadcaster. The renaming is subject to the approval of the Annual General Meeting.
The broadcaster hopes to attract new subscribers under the new name, but is also accepting a high write-down. The depreciation of the old name will reduce the net result for the second quarter by 256.1 million, as Premiere announced.
