BERLIN — ProSieben Media AG’s pretax profits rose 26% to DM125 million ($71 million) in the first nine months of 1997, the company reported Friday.
The Munich-based TV group’s sales reached $740 million in the first three quarters, an increase of 13% over the same period the previous year.
At the same time, ProSieben spent $408 million on programming from January to September, down from $539 million in the first nine months of 1996.
ProSieben managing director Georg Kofler described the results as “satisfactory,” adding that the group is “continuing to work on improving efficiency.”
ProSieben, which draws most of its revenues from commercial webs ProSieben and Kabel1, in July became the first German TV group to go public. Thomas Kirch, son of Bavarian media mogul Leo Kirch, holds a majority stake in the company.