BERLIN — ProSieben Media AG saw a 44% increase in profit last year, according to a report in the German financial news daily Handelblatt.
The media group, which controls commercial webs Pro7 and Kabel 1, made a profit of $88.2 million, some $27 million more than in 1997. The Munich-based ProSieben had estimated revenues of $1.15 billion, a 5% increase over the previous year.
With business on an upswing, executives at ProSieben recently unveiled plans for a new 24-hour news channel here, dubbed N-24.
In addition, the ProSieben channel Kabel 1 reported its highest ratings share ever Tuesday with the German version of “Wheel of Fortune,” known here as “Gluecksrad.” The gameshow attracted more than a 10% share and 7.4%among viewers between 14 and 49.
In related news, former Pro7 programming director Jan Koerbelin has established his own production and consulting company, Cubeo Media, in Munich.