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Harsh climate for Globo

B'caster revenues down, ad spend under control

RIO DE JANEIRO — Brazil’s economic troubles have taken their toll on the financial performance of leading broadcaster TV Globo.

Net revenue fell 12% to $495 million for the first half of the year, down from $565 million for the year-earlier period. Net profit plunged 82% to $29 million for the first half of 2001 from $158 million in the same period of 2000.

Despite the financial hits, Globo managed to maintain its hold on ad spend: its share of broadcast TV ads was 78% for the six-month period — exactly the same as that registered in the first half of last year.

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