Satellite service sees lowest-ever losses in '99 at $124.7 mil
PARIS — French satellite platform TPS was $104.5 million in the red in 2000, but cut its losses by 16% from the previous year, the company said Tuesday.
The rival to Canal Plus subsid CanalSatellite saw its losses dip to a lowest-ever $124.7 million in 1999.
“The figures for last year were on target with our expectations,” a TPS spokesman told Daily Variety.
Earlier this year, TPS chief Jacques Espinasse announced 2000 revenues of $328.8 million, up 36%. By the end of 2000, the satellite platform had notched 1 million subscribers and 150,000 subs to its cinema cable channels.
TPS is owned jointly by TF1, Suez (a shareholder in private web M6), pubcaster France Television and France Telecom.