Antena 3 profits soar in 5 months

$57.1 mil in profits due to 13% increase in ad revs

MADRID — Antena 3 TV president Jose Maria Mas announced record operating profits for the first five months of 1998 of $57.1 million. These were mostly attributed to a 13% increase in ad revenues.

Results, announced last week, come 11 months after Telefonica made waves in Spain by buying a controlling 25% of the network in July 1997. A3TV recorded a 23% audience market share in 1997, just edging out Tele 5 which took 22%.

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