Premiere posts a record loss in 2008
The pay-TV broadcaster Premiere can look back on a gloomy year. In 2008, the net loss quintupled compared to the previous year to almost 270 million euros.
The pay-TV broadcaster Premiere can look back on a gloomy year: In 2008, the net loss quintupled compared to the previous year to almost 270 million euros. The company announced on Monday that the result was burdened, among other things, by the costs of eliminating loopholes in the program encryption system, which make it possible to watch black channels. In addition, unlike in previous years, there was much less special income from the sale of shareholdings in 2008.
Turnover rose slightly last year from 937 to 941 million euros. The Group is only forecasting profits for 2011. To get into the black, three to 3.4 million subscribers are needed, said Premiere CEO Mark Williams. Premiere had around 2.4 million subscribers at the end of 2008. The broadcaster lost 12,000 customers in the final quarter.
Media mogul and major shareholder Rupert Murdoch promised the broadcaster a capital increase of 450 million euros last December. This means that Premiere could soon be controlled by his media group News Corp.
In 2002, Premiere barely managed to rescue itself from the ruins of Leo Kirch's bankrupt film and TV group and has only made a small annual profit since then. The largest annual loss until 2008 was incurred in 2003 with 204 million euros.
Turnover rose slightly last year from 937 to 941 million euros. The Group is only forecasting profits for 2011. To get into the black, three to 3.4 million subscribers are needed, said Premiere CEO Mark Williams. Premiere had around 2.4 million subscribers at the end of 2008. The broadcaster lost 12,000 customers in the final quarter.
Media mogul and major shareholder Rupert Murdoch promised the broadcaster a capital increase of 450 million euros last December. This means that Premiere could soon be controlled by his media group News Corp.
In 2002, Premiere barely managed to rescue itself from the ruins of Leo Kirch's bankrupt film and TV group and has only made a small annual profit since then. The largest annual loss until 2008 was incurred in 2003 with 204 million euros.
