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Premiere takes a hit

Earnings Brief

German paybox Premiere took a hit in the first quarter as net losses increased from E3.4 million ($4.4 million) in the period last year to $23.5 million this year, although revenue grew 11% to $351 million.

Topper Georg Kofler said first-quarter results were “in line with our expectations,” although some local analysts said the losses were three to four times higher than their initial forecasts.

Premiere execs attributed the higher losses to increased costs for sports programming.

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