You will be redirected back to your article in seconds

Ch. 5 predicts profit in 2000

5% viewing share exceeding goal

LONDON — Channel 5, the U.K.’s fifth terrestrial TV channel, predicts it will achieve its first full-year operating profit in the year 2000 — with profits estimated in excess of £10 million ($16 million).

Speaking at C5’s fall programming launch, chief exec David Elstein said, “Our most recent trading quarter — just the ninth after launch — showed an operating profit. Although we will lose money for the year as a whole, 1999 will be the last year we do so.”

When it launched in the spring of 1997, C5’s stated goal was a 5% viewing share. For the past 16 weeks, the share has exceeded 5%.

The upbeat performance could trigger a shift in C5’s shareholders. U.S. venture capital group Warburg Pincus may choose to sell its 18% stake. United News & Media is believed to be interested in upping its 29% holding, as are Luxembourg-based CLT/Ufa (29%) and media group Pearson (24%).

In its first year, the channel spent only $176 million on programming.

“Over the next five years,” Elstein said, “we plan to inject a 25% real increase in program spend into our schedule, and we may not stop there.”

More Biz

  • Tarana Burke

    One Year After #MeToo Shook Hollywood, the Fight Rages on (Column)

    LONDON — Channel 5, the U.K.’s fifth terrestrial TV channel, predicts it will achieve its first full-year operating profit in the year 2000 — with profits estimated in excess of £10 million ($16 million). Speaking at C5’s fall programming launch, chief exec David Elstein said, “Our most recent trading quarter — just the ninth after […]

  • Bill Cosby departs after his sexual

    Judge Rules Bill Cosby as 'Sexually Violent Predator'

    LONDON — Channel 5, the U.K.’s fifth terrestrial TV channel, predicts it will achieve its first full-year operating profit in the year 2000 — with profits estimated in excess of £10 million ($16 million). Speaking at C5’s fall programming launch, chief exec David Elstein said, “Our most recent trading quarter — just the ninth after […]

  • Sundance Film Festival Placeholder

    Senators Question Ticketmaster, Live Nation on Alleged Scalper Collusion

    LONDON — Channel 5, the U.K.’s fifth terrestrial TV channel, predicts it will achieve its first full-year operating profit in the year 2000 — with profits estimated in excess of £10 million ($16 million). Speaking at C5’s fall programming launch, chief exec David Elstein said, “Our most recent trading quarter — just the ninth after […]

  • Gigi Pritzker Strictly Business Podcast Variety

    Listen: Producer Gigi Pritzker on Staying Nimble and Embracing Risk

    LONDON — Channel 5, the U.K.’s fifth terrestrial TV channel, predicts it will achieve its first full-year operating profit in the year 2000 — with profits estimated in excess of £10 million ($16 million). Speaking at C5’s fall programming launch, chief exec David Elstein said, “Our most recent trading quarter — just the ninth after […]

  • LAPD Placeholder

    Many Accused, None Prosecuted: Why #MeToo Hasn't Led to a Single Criminal Charge in L.A.

    LONDON — Channel 5, the U.K.’s fifth terrestrial TV channel, predicts it will achieve its first full-year operating profit in the year 2000 — with profits estimated in excess of £10 million ($16 million). Speaking at C5’s fall programming launch, chief exec David Elstein said, “Our most recent trading quarter — just the ninth after […]

  • Times Up Hollywood

    Inside Time's Up Entertainment's Plan to Take on Sexism in Hollywood

    LONDON — Channel 5, the U.K.’s fifth terrestrial TV channel, predicts it will achieve its first full-year operating profit in the year 2000 — with profits estimated in excess of £10 million ($16 million). Speaking at C5’s fall programming launch, chief exec David Elstein said, “Our most recent trading quarter — just the ninth after […]

  • Sexual Harassment at Hollywood Talent Agencies

    When Saying 'Me Too' Isn't Enough (Column)

    LONDON — Channel 5, the U.K.’s fifth terrestrial TV channel, predicts it will achieve its first full-year operating profit in the year 2000 — with profits estimated in excess of £10 million ($16 million). Speaking at C5’s fall programming launch, chief exec David Elstein said, “Our most recent trading quarter — just the ninth after […]

More From Our Brands

Access exclusive content