ProSieben profit jumps

Earnings reach $36.3 mil on sales of $543 mil

BERLIN — Citing lower costs and growth from new businesses, Haim Saban’s ProSiebenSat 1 TV group reported Friday that net profit rose 14% in the first quarter despite a slight drop in revenue.

It’s more positive news for Saban, who is reportedly entertaining offers for the group from publishing giant Axel Springer and NBC Universal.

Speculation about an NBC Universal bid heated up following an article in the Financial Times in which top brass expressed interest in acquisitions in Germany. ProSiebenSat 1 execs declined to comment.

Earnings (profit) at ProSiebenSat1 reached E28.7 million ($36.3 million) on sales of $543 million, down more than $7.5 million from the same period last year. Company attributed the dip to a “still-overcast TV advertising market.”

“The year started weaker than we expected,” said chief exec Guillaume de Posch, speaking at the annual shareholders meeting in Munich. “The sluggish German economy still prevents companies from increasing their ad spending.”

ProSiebenSat 1 expects the German TV advertising market to decline about 2% in 2005 as “consumers remain wary.”

Yet de Posch said further cost cutting and an increase in sales from its shopping channels and growing mobile phone and Internet business would help ProSiebenSat 1 meet its full-year forecast.

The CEO also reiterated plans to start pay webs in Germany. In February, it launched ProSiebenSat 1 Welt, a German-language feevee aimed at 1 million German-speaking viewers in the U.S.

Meanwhile, ProSiebenSat 1 shareholders appointed Saban’s brother Arieh Saban to replace former BSkyB topper Tony Ball on the group’s supervisory board. Ball ankled in April to become chair of the advisory board at Kabel Deutschland, Germany’s largest cable group.

More Biz

  • Golden Globes

    HFPA, Dick Clark Productions Near New Golden Globe Awards Rights Deal With NBC

    BERLIN — Citing lower costs and growth from new businesses, Haim Saban’s ProSiebenSat 1 TV group reported Friday that net profit rose 14% in the first quarter despite a slight drop in revenue. It’s more positive news for Saban, who is reportedly entertaining offers for the group from publishing giant Axel Springer and NBC Universal. […]

  • New York Daily News, Tronc

    Tronc Lays Off 50% of New York Daily News Editorial Staff, Including Top Editor Jim Rich

    BERLIN — Citing lower costs and growth from new businesses, Haim Saban’s ProSiebenSat 1 TV group reported Friday that net profit rose 14% in the first quarter despite a slight drop in revenue. It’s more positive news for Saban, who is reportedly entertaining offers for the group from publishing giant Axel Springer and NBC Universal. […]

  • Jack Ma Alibaba

    Alibaba Looking at Expansion in Advertising, Media Sectors

    BERLIN — Citing lower costs and growth from new businesses, Haim Saban’s ProSiebenSat 1 TV group reported Friday that net profit rose 14% in the first quarter despite a slight drop in revenue. It’s more positive news for Saban, who is reportedly entertaining offers for the group from publishing giant Axel Springer and NBC Universal. […]

  • Mandatory Credit: Photo by AP/REX/Shutterstock (9178399b)Hillary

    Hillary Clinton Talks Russia, Trump, Putin and Midterm Elections at NYC Festival

    BERLIN — Citing lower costs and growth from new businesses, Haim Saban’s ProSiebenSat 1 TV group reported Friday that net profit rose 14% in the first quarter despite a slight drop in revenue. It’s more positive news for Saban, who is reportedly entertaining offers for the group from publishing giant Axel Springer and NBC Universal. […]

  • Richard Simmons

    Prosecutors Charge Private Eye With Illegal Spying on Richard Simmons

    BERLIN — Citing lower costs and growth from new businesses, Haim Saban’s ProSiebenSat 1 TV group reported Friday that net profit rose 14% in the first quarter despite a slight drop in revenue. It’s more positive news for Saban, who is reportedly entertaining offers for the group from publishing giant Axel Springer and NBC Universal. […]

  • Lionsgate General Counsel Left Amid Allegations

    Lionsgate General Counsel Left Amid Allegations of Sexual Abuse

    BERLIN — Citing lower costs and growth from new businesses, Haim Saban’s ProSiebenSat 1 TV group reported Friday that net profit rose 14% in the first quarter despite a slight drop in revenue. It’s more positive news for Saban, who is reportedly entertaining offers for the group from publishing giant Axel Springer and NBC Universal. […]

  • 'Hammerhead' Takes Top Honors at New

    'Hammerhead' Takes Top Honors at New York Television Festival

    BERLIN — Citing lower costs and growth from new businesses, Haim Saban’s ProSiebenSat 1 TV group reported Friday that net profit rose 14% in the first quarter despite a slight drop in revenue. It’s more positive news for Saban, who is reportedly entertaining offers for the group from publishing giant Axel Springer and NBC Universal. […]

More From Our Brands

Access exclusive content