Prime TV posts loss

prime_logo_1Regional broadcaster Prime Media Group is down $44.44 million in the last twelve months after being hit by the downturn in advertising.

Revenue rose 5.5 per cent to $278.86m.

In the previous twelve months its profit was $14.53m.

According to AAP, CEO Warwick Syphers said Prime’s core regional television operations had performed solidly, buoyed by the continuing strong performance of Seven Network programming.

Prime, which includes a radio arm, added that revenue for regional television is down of 5.3% across the board, but flagged signgs of improvement.

Syphers indicated the group was positioned to perform strongly as the economic outlook improved.

Source: AAP / The Australian

5 Comments:

  1. Many TV companies around the world are reporting losses this year. That doesn’t mean they all start dumping local news. Like Seven stations, Prime’s news is no doubt a strong contribution to their ratings

  2. the news in the markets they have got must be costing them huge amounts of $$$ i wonder if they have looked at the WIN and Sth X models of either doing just updates or centralising their readers…they have already flicked the production people to save money…this can’t be good at all

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