ProSieben scales back

Company considers hiring freeze, canceling shows

BERLIN — German commercial broadcasting group ProSiebenSat 1 said Thursday it would revise its programming budgets on the back of first-quarter figures, which saw profits fall from 45.5 million euros ($38 million) to $24 million as advertising revenues sink in Europe.

Company said it was considering freezing staff numbers as well as canceling or postponing new shows.

Meanwhile, rival station RTL announced a bold investment of $216 million in its fiction department, including plans for 25 new TV movies for the next year.

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