×
You will be redirected back to your article in seconds

SBS expands online

New media push includes deal with Endemol

Euro TV station group SBS said Wednesday it has created SBS New Media, a wholly owned subsidiary that will oversee the company’s aggressive Internet expansion in Europe. A big first step is SBS’ alliance with giant Euro production house Endemol for a Dutch entertainment portal.

SBS also plans to announce today that revenue for the third quarter ended Sept. 30 jumped 22% to $84.3 million and net losses widened to $25.6 million from $16.3 million. Strong numbers at TVNorge in Norway and TvDanmark fueled revenue growth.

Following the lead of such U.S. broadcasters as CBS, SBS said it will take a 15% stake in Bidlet, the owner of Sweden’s largest auction site, in exchange for $2.5 million in cash and $15.5 million worth of ad time over five years.

SBS, which plans to roll out the site into other Euro markets, will use the leverage of its TV and radio assets to direct audiences to the Web site — and vice versa. More similarly structured deals are likely to follow.

CBS has been pursuing a model of taking equity stakes in Web sites or their parent companies in return for advertising across all its platforms: broadcast, network and outdoor.

Strategic partnership

SBS has also forged a strategic partnership with Washington, D.C.-based tech company ZeniMax Media to develop European entertainment sites and Web portals. ZeniMax’s L.A. studio, e-Nexus, has built relationships with the Hollywood creative community that will help to build proprietary content for new SBS sites.

Greger Larson, senior VP of sales for SBS, will be managing director of the new-media unit.

As for financials, SBS said its wider loss was due in large part to a $9.4 million, one-time expense related to the termination of its agreement to acquire rival Euro station group CME. SBS’ deal earlier this year to buy Central European Media Enterprises collapsed in a costly mess as the key CME station asset, Prague’s Nova TV, foundered in litigation.

SBS owns TV stations in Scandinavia, Holland, Belgium, Switzerland and Hungary. SBS has radio operations in Denmark, Sweden and Finland and is present in Slovenia and Switzerland.

SBS stock closed at 38¾ on Tuesday, up 3/8.

More Biz

  • IWC Schaffhausen store opening, Rodeo Drive,

    8 Luxury Gifts That Industry Leaders Are Spending Their Paychecks On

    Whether you’re celebrating a new launch, a new business venture, or toasting to the end of another successful year, here are eight gift ideas to reward yourself — and to impress the company you keep. 1. Saint Laurent Perforated Leather Tote Bag If you work in the industry, you need a good bag, and you’ve [...]

  • best airlines ranked inflight entertainment

    Holiday Travel Survey Reveals Airlines With Best In-Flight Entertainment

    There are many ways to pass the time if you’re in the air, but for most people, settling in with a glass of wine and a movie is the preferred way to fly. But not all airlines share the same script when it comes to entertainment offerings. A new survey from the website, CableTV.com, ranked [...]

  • Ventana Sur Rocks with Sales, Mass

    Ventana Sur Rocks with Sales, Mass Attendance, Structural Growth

    BUENOS AIRES — Celebrating its 10th anniversary with a huge hike in attendance to over 4,000 accredited delegates, the 2018 Ventana Sur will go down in history on multiple counts: Sales and pick-ups on movies which combined social comment and entertainment value, increasingly the new foreign-language movie standard; new sections, led by a Proyecta co-production [...]

  • Jennifer Lawrence Harvey Weinstein

    Jennifer Lawrence Denies Harvey Weinstein's Claim in Latest Assault Lawsuit

    Harvey Weinstein was hit with a lawsuit Friday from an actress who claims he forcibly performed oral sex on her, repeatedly masturbated in front of her, and threatened to harm her career if she objected. The suit details that Weinstein claimed he was trying to help her and that he was the gateway to her dreams. [...]

  • Times Up Hollywood

    Time's Up Entertainment Announces New Industry Mentoring Initiative

    Time’s Up Entertainment, an affiliate of the Time’s Up coalition of women across industries working to improve workplace safety, has announced the “Who’s in the Room” industry mentoring initiative. The program’s goal is to increase the presence of people of color from diverse backgrounds in the entertainment industry’s executive ranks. Funded by a $500,000 grant from [...]

  • Tom Cruise as Ethan Hunt in

    Paramount Inks Deal for Theme Park in South Korea

    Paramount Pictures has announced a deal to install a studio-branded theme park in an entertainment resort being developed in South Korea. The agreement was struck between Paramount and Mohegan Gaming & Entertainment, which owns the Inspire Integrated Entertainment Resort in the South Korean city of Incheon. Mohegan has invested KRW 2.8 trillion ($2.4 billion) in [...]

  • Davan Maharaj Mel Gibson

    L.A. Times Publisher's Lawyer Was Accused of Extorting Mel Gibson

    The attorney who negotiated a $2.5 million exit package for L.A. Times publisher Davan Maharaj was previously accused of using secret recordings to extort actor Mel Gibson. Surreptitious recordings also figure in the Maharaj case. NPR reported on Wednesday that Maharaj taped Tronc chairman Michael Ferro. According to the report, Ferro was heard on the [...]

More From Our Brands

Access exclusive content