AMSTERDAM — Heavy investments in programming and new channels ate at the bottom line in the first half for Sweden’s TV4, the Nordic territory’s largest commercial channel.
TV4 swung to a loss of 20 million Swedish kroner ($2.5 million) from a profit of $4.4 million in the first half of 2003. Revenues of $153 million were up a fraction from $152 million a year earlier.
TV4 has recently launched TV4 Plus, youth-oriented TV4 Med i and TV4 Film to establish itself as a multichannel broadcaster.
TV4’s biggest shareholder is the Bonnier group, which is in major cost-cutting mode. It has axed 70 staffers at TV4 in the first half year.