Sweden’s most-watched television channel, Stockholm-based commercial outfit TV4, showed 1994 profits after tax of SKr 213 million ($28.7 million), an improvement of almost 400% over 1993, on an operating income of $175 million. The company was floated on the Swedish Stock Exchange in April 1994 with a new share issue of $53.9 million.
Acting managing director Lars Weiss attributed the channel’s income growth and successful flotation to an upswing in the Swedish TV advertising spend – and TV4’s effectiveness in poaching viewers from the state channels with its strong sports, drama and news coverage. Its market share for the last fall season was 29.6%, compared to 24.8% in 1993.
The company’s new managing director Christer Forsstrom will begin his job next month.