Revenue: $2.04 billion
Loss: $187.17 million
TF1 and its conservative longtime prexy, Patrick Le Lay, are in expansion mode. TF1 has its eye on part of the Kirch Media empire. All this speculation about big-buck acquisitions has investors worried: TF1’s stock price continues to plunge, down 20% from the first of the year, trading near its lowest price ever, in the low 20s.
Plus, TF1 recently shelled out S102 million ($99.5 million) in cash to up its stake in satcaster TPS from 50% to 66%.
Ad coin for the group was down 4.7% to $1.3 billion in 2001 as advertising expenditure continued to drop. And it’s not getting better in 2002, with ad revenues down 4.1% in the second quarter.
Though TF1 scored a staggering 90.3% market share for the World Cup soccer match in which the defending champion French team lost to Denmark in the first round, the broadcaster’s ad revenues from the matches, which were calculated on a sliding scale depending on Gallic participation in the games, were nowhere near expectations.
This year, TF1 is expanding its cinema activity and recently pacted with Miramax to launch a French film distribution joint venture, TFM. First film to be released will be Steven Soderbergh’s “Full Frontal,” on Oct. 2.