You will be redirected back to your article in seconds

Ad slump afflicts Modern Times

Net profit rises from $2.3 million to $3.1 million

AMSTERDAM — Revenues for Scandinavia’s Modern Times Group dipped slightly in the first quarter, hit by the weak advertising market.

While net profit soared year-on-year, much of that gain was attributed to financial nets and currency transactions.

MTG posted revenues of 1.4 billion Swedish krona ($135.8 million), down from $145.5 million a year ago. Net profit rose from $2.3 million to $3.1 million, but operating income for the company as a whole fell from $6.4 million to $1.9 million in the first quarter.

The company owns 19 TV pay and free TV channels in the Nordic and Baltic territories, as well as Hungary and Russia.

More Biz

  • get out Oscar Race

    'Get Out' Awards Category Dilemma: Film Defies Easy Labels, Cast Says

    AMSTERDAM — Revenues for Scandinavia’s Modern Times Group dipped slightly in the first quarter, hit by the weak advertising market. While net profit soared year-on-year, much of that gain was attributed to financial nets and currency transactions. MTG posted revenues of 1.4 billion Swedish krona ($135.8 million), down from $145.5 million a year ago. Net […]

  • David Hoberman and Todd Lieberman Mandeville

    Media Access Awards Honor Hollywood for Depicting People With Disabilities

    AMSTERDAM — Revenues for Scandinavia’s Modern Times Group dipped slightly in the first quarter, hit by the weak advertising market. While net profit soared year-on-year, much of that gain was attributed to financial nets and currency transactions. MTG posted revenues of 1.4 billion Swedish krona ($135.8 million), down from $145.5 million a year ago. Net […]

  • This, photo shows the 21st Century

    Sony Pictures Joins 21st Century Fox Hunt as Deal Talk Spreads Across Biz

    AMSTERDAM — Revenues for Scandinavia’s Modern Times Group dipped slightly in the first quarter, hit by the weak advertising market. While net profit soared year-on-year, much of that gain was attributed to financial nets and currency transactions. MTG posted revenues of 1.4 billion Swedish krona ($135.8 million), down from $145.5 million a year ago. Net […]

  • Songs for Screens Powered by Mac

    Songs for Screens: Exclusive Premiere From Poo Bear and T-Bone Burnett; The Avalanches Hit The Slopes With North Face (Listen)

    AMSTERDAM — Revenues for Scandinavia’s Modern Times Group dipped slightly in the first quarter, hit by the weak advertising market. While net profit soared year-on-year, much of that gain was attributed to financial nets and currency transactions. MTG posted revenues of 1.4 billion Swedish krona ($135.8 million), down from $145.5 million a year ago. Net […]

  • India’s PVR Buys Stake in iPic

    India’s PVR Buys Stake in iPic U.S. Luxury Theater Chain

    AMSTERDAM — Revenues for Scandinavia’s Modern Times Group dipped slightly in the first quarter, hit by the weak advertising market. While net profit soared year-on-year, much of that gain was attributed to financial nets and currency transactions. MTG posted revenues of 1.4 billion Swedish krona ($135.8 million), down from $145.5 million a year ago. Net […]

  • Fusion Media Group

    Univision Seeking to Sell Minority Stake in Fusion Media Group

    AMSTERDAM — Revenues for Scandinavia’s Modern Times Group dipped slightly in the first quarter, hit by the weak advertising market. While net profit soared year-on-year, much of that gain was attributed to financial nets and currency transactions. MTG posted revenues of 1.4 billion Swedish krona ($135.8 million), down from $145.5 million a year ago. Net […]

  • Brett Ratner

    Brett Ratner Steps Down From Simon Wiesenthal Center Board Amid Sexual Misconduct Claims

    AMSTERDAM — Revenues for Scandinavia’s Modern Times Group dipped slightly in the first quarter, hit by the weak advertising market. While net profit soared year-on-year, much of that gain was attributed to financial nets and currency transactions. MTG posted revenues of 1.4 billion Swedish krona ($135.8 million), down from $145.5 million a year ago. Net […]

More From Our Brands

Access exclusive content