France 2 in the red for ’96

PARIS — Gallic pubcaster France 2 has announced a loss of 200 million francs ($34 million) for 1996, following a $10 million profit for the previous year.

In a statement released on July 9, France 2 management said that the initial $841 million budget set by the government had not been enough to cover increased programming costs, which last year rose to $600 million. France 2 is financed by a combination of TV license fees and ad revenue.

The network spent heavily covering the Atlanta Olympic Games and the Euro ’96 soccer competition in the U.K., but the lion’s share of the losses were attributed to substantial writeoffs made in 1996.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety