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.

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