Board member was former CEO
LONDON — Pan-European broadcaster SBS Broadcasting announced Thursday that top exec Markus Tellenbach had resigned from the company board.
The 46-year-old TV executive was instrumental in the company’s strategic expansion of recent years and the company’s sale to private equity firms KKR and Permira in August 2005, SBS said in a statement.
Tellenbach joined SBS in February 2001 as chief operating officer and was appointed chief exec in August 2002. He stepped down from the position of CEO in December 2005 for “personal health reasons” but remained on the board.
“Under Markus’ leadership SBS developed from a collection of broadcasters into a highly successful multimedia group with a strong management team,” said SBS chairman Dominic Murphy.
A company spokesman said Tellenbach’s departure was not related to KKR and Permira’s plans to merge SBS with another recent media acquisition, German broadcasting group ProSiebenSat 1.
Luxembourg-based SBS announced on Friday record revenues and operating profits for 2006 –evidence, it said, that its strate-gic expansion of recent years is paying off.
The company posted record gross earnings of E207 million ($271 million) in 2006 vs. $190 million in 2005. SBS, which is not publicly quoted, declined to disclose its net profit.
Revs grew by 14% to $1.3 billion vs. $1.1 billion in 2005.
SBS operates commercial television and pay TV channels, radio stations and print operations across Europe. It has broadcast-ing operations in Belgium, Denmark, Finland, Greece, Hungary, the Netherlands, Norway, Romania, Sweden and the U.K.
Breaking down the results, SBS said commercial television had accounted for 70% of revenue, with pay TV, radio and print bringing in 15%, 8% and 7%, respectively.
It said that non-advertising revs had increased to 39% of net revs from 34% in 2005, driven by pay TV, cable fees, subscrip-tions and interactive TV.