Terrorist attacks to blame
COLOGNE — German TV group ProSiebenSat 1 Media has revised its outlook for fiscal 2001 as a consequence of the recent terrorist attacks.“U.S. corporations in particular have canceled or significantly reduced their bookings, as have advertising clients in the banking, insurance and tourism and air travel segments,” ProSiebenSat 1 Media CEO Urs Rohner said Friday. ProSiebenSat 1 claims to have a 45.5% share of German TV ad rev. Last year, company generated earnings (before interest and taxes) 245 million euros ($222.88 million), which it now forecasts to drop by about 20%. Prior to the attacks, group had expected to keep its earnings at last year’s level, despite an economic chill in Germany. RTL Group — which in July said the difficult market would press its 2000 earnings of $504.9 million down 10%-15% — last week suggested the drop could well be deeper. “It’s difficult to make any forecast now, but no one expects a turnaround of the advertising business this year,” a group spokesman said. Meanwhile, channels have returned to regular skeds but keep a wary eye on action programs. The most prominent domestic production postponed from its skedded broadcast was RTL’s DM9 million ($4.19 million) thriller about a plague, which will be replaced with “In the Beginning,” a co-production with Hallmark.
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