ProSiebenSat.1 posts loss due to advertising slump
Hard times for the German private television group ProSiebenSat.1: Due to massive problems in the sale of problems with the sale of advertising time, the company surprisingly slipped into the red at the beginning of the year
Hard times for the German private television group ProSiebenSat.1: Due to massive problems with the sale of advertising time, the company surprisingly slipped into the red at the beginning of the year. The Munich-based group's shares plummeted by up to 28 percent. The pre-tax loss in the first quarter of 2008 amounted to 8.5 million euros. Turnover fell by 2 percent to a good 729 million euros. Group CEO Guillaume de Posch blamed the misery on a new sales model for advertising time enforced by the cartel office and the weak ratings of the Sat.1 channel, and experts spoke of disastrous figures and construction sites in all areas of the company. The management announced a new savings program late Thursday evening. They now want to cut 70 million euros from the original budget for
save in 2008.
save in 2008.
