TV conglom experiences best ever third quarter results
MADRID — Boosted by rising subs at digital platform Canal Satelite Digital and the performance of Alejandro Amenabar pic “The Others,” which it 51% financed, Spanish film and TV conglom Sogecable has seen its best ever third quarter results.
Net profits rose to $2.7 million compared to losses of $12.2 million over the same period last year. Revenues for the first nine months reached $659.1 million.
CSD subs increased to 1.19 million through Sept. 30.
One of Sogecable’s major challenges is to lower the cost of soccer rights in Spain. Audiovisual Sport, Sogecable’s joint sport rights-brokering venture with Telefonica Media, continues to post losses.