Flemish-language pubcaster VRT is doubling its 2003 spending on new projects to $49.2 million this year.
It also intends to maintain this level of spending in 2005 and 2006. VRT financial director Willy Wijnants said that most of the coin will finance interactive digital TV and the pubcaster’s news Internet site, VRTnieuws.net.
VRT made a profit of $22.6 million in 2003 and its operating loss was $8.2 million, down from $26.5 million a year earlier. Its total budget for 2004 is $458 million, 3% up on the previous year.