AMSTERDAM — SBS Broadcasting upped revs 22% to E141 million ($172 million), an increase of $31 million, and cut its losses by more than half to $4.7 million in the first quarter.
TV revs at the pan-European broadcaster’s rose 7% from $129.4 million to $138.3 million, while net radio revs rose 36% to $14.1 million from $10.4 million.
Print holdings Veronica and Satellite magazine, acquired last year in Holland, reported revenues of $17.7 million.
SBS acquired Veronica, a print and radio guide that is the largest-circulation weekly mag in the Netherlands, when it picked up most of the assets of the Veronica Holding last year.
Intent at the time was to use the name Veronica, considered a valuable brand in Holland, for one of its channels, V8, which relaunched in the fall with the new handle.