ProTV's mid-year turnover exceeds USD 67mln

Media company ProTV, which runs the channels ProTV, Acasa TV, Acasa Gold TV, Procinema, Sport.ro, ProTV International, ProTV Chisinau and MTV Romania, announced a turnover of USD 67.5 million, and an operational profit of USD 7 million, according to the financial indicators posted by shareholder Central Media European (CME).

In the second quarter of the year, the PRO TV company posted a turnover of USD 36.3 million and an operational profit of USD 5 million.

Adrian Sarbu, CME’s President and CEO, commented: “By July 3, 2012 we had completed transactions with our major shareholders, Time Warner and Ronald Lauder, which reduced our debt by USD 185 million. Despite a 7 percent decline in advertising spending for the first half, our revenues year-on-year were flat in constant currencies, driven by growth in Media Pro Entertainment and New Media, where Voyo became a leader in the subscription video-on-demand segment. In the second half of the year, we will continue to focus on deleveraging, maintaining our leading audience and market shares, expanding non-advertising revenues, and delivering positive free cash flow.”

CME has operations in six Central and Eastern European markets, with an aggregate population of approximately 50 million people. CME’s broadcast operations are located in Bulgaria (bTV, bTV Cinema, bTV Comedy, bTV Action, bTV Lady and Ring.bg), Croatia (Nova TV, Doma and Nova World), the Czech Republic (TV Nova, Nova Cinema, Nova Sport, Fanda and MTV Czech), Romania (PRO TV, PRO TV International, Acasa, Acasa Gold, PRO Cinema, Sport.ro, MTV Romania and PRO TV Chisinau Moldova), the Slovak Republic (TV Markíza and Doma), Slovenia (POP TV, Kanal A and the POP NON STOP subscription package).

CME’s broadcast operations are supported by its content and distribution division, Media Pro Entertainment, as well as its New Media division, which operates Voyo, the pan-regional video-on-demand service. CME is traded on the NASDAQ and the Prague Stock Exchange under the ticker symbol “CETV”.