You will be redirected back to your article in seconds

Modern Times profit soaring

Signal piracy hampers pay TV income

AMSTERDAM — Scandinavian media outfit Modern Times Group more than doubled its profits from 289 million Swedish kroner ($41 million) to $96 million in 2004. But group net sales rose a limp 8% to $973 million.

MTG’s broadcast division Viasat Broadcasting reported operating income up from $5 million in 2003 to $25 million in 2004 for its terrestrial webs. But pay TV operating income slid from $72 million to $44 million due to signal piracy. This is expected to reverse in 2005 when the new NDS encryption system is fully operational.

A net gain from the sale of translation and subtitling service SDI Media of $55 million pushed operating income for the group as a whole from $78 million in 2003 to $137 million in 2004.

Format company Strix had a 33% rise in sales and doubled its operating profits in 2004, pushing up sales of content division Modern Studios 12% to $119 million.

More Scene

  • NMHC Impact Awards

    Aubrey Plaza, NHMC President Call Out Under-Representation of Latinos at Impact Awards

    AMSTERDAM — Scandinavian media outfit Modern Times Group more than doubled its profits from 289 million Swedish kroner ($41 million) to $96 million in 2004. But group net sales rose a limp 8% to $973 million. MTG’s broadcast division Viasat Broadcasting reported operating income up from $5 million in 2003 to $25 million in 2004 […]

  • 'Seven Seconds' TV show premiere

    Regina King Talks Heaviness of Role in 'Seven Seconds'

    AMSTERDAM — Scandinavian media outfit Modern Times Group more than doubled its profits from 289 million Swedish kroner ($41 million) to $96 million in 2004. But group net sales rose a limp 8% to $973 million. MTG’s broadcast division Viasat Broadcasting reported operating income up from $5 million in 2003 to $25 million in 2004 […]

  • UnReal Athena Film Festival

    How Trump Beating Clinton Impacted the Gender Politics of 'UnReal' Season 3

    AMSTERDAM — Scandinavian media outfit Modern Times Group more than doubled its profits from 289 million Swedish kroner ($41 million) to $96 million in 2004. But group net sales rose a limp 8% to $973 million. MTG’s broadcast division Viasat Broadcasting reported operating income up from $5 million in 2003 to $25 million in 2004 […]

  • 'Unsolved: The Murders of Tupac and

    'Unsolved' Stars Point Out Racial Injustice in Biggie and Tupac Murder Cases

    AMSTERDAM — Scandinavian media outfit Modern Times Group more than doubled its profits from 289 million Swedish kroner ($41 million) to $96 million in 2004. But group net sales rose a limp 8% to $973 million. MTG’s broadcast division Viasat Broadcasting reported operating income up from $5 million in 2003 to $25 million in 2004 […]

  • Taura Stinson, Common, and Diane WarrenVariety

    Common, Pasek and Paul, Diane Warren Reveal Inspiration Behind Oscar-Nominated Songs

    AMSTERDAM — Scandinavian media outfit Modern Times Group more than doubled its profits from 289 million Swedish kroner ($41 million) to $96 million in 2004. But group net sales rose a limp 8% to $973 million. MTG’s broadcast division Viasat Broadcasting reported operating income up from $5 million in 2003 to $25 million in 2004 […]

  • 'Game Night' film premiere

    'Game Night': Director, Writer Talk 'Straddling Genres' and the Influence of 'Get Out'

    AMSTERDAM — Scandinavian media outfit Modern Times Group more than doubled its profits from 289 million Swedish kroner ($41 million) to $96 million in 2004. But group net sales rose a limp 8% to $973 million. MTG’s broadcast division Viasat Broadcasting reported operating income up from $5 million in 2003 to $25 million in 2004 […]

  • Esquire 'Mavericks of Hollywood' party

    Terry Crews on His Sexual Assault Lawsuit: 'If I Don’t Get Justice, Nobody Can'

    AMSTERDAM — Scandinavian media outfit Modern Times Group more than doubled its profits from 289 million Swedish kroner ($41 million) to $96 million in 2004. But group net sales rose a limp 8% to $973 million. MTG’s broadcast division Viasat Broadcasting reported operating income up from $5 million in 2003 to $25 million in 2004 […]

More From Our Brands

Access exclusive content