New channels signal big profits for TVN broadcaster

The ITI-owned television network TVN posted a zł.80.63 million profit in the first half of the year, which is a 93% increase compared to the same period in 2003. The company, which is currently preparing for its IPO, also increased its sales income by 19% to zł.361.51 million and its EBIDTA by 34% to zł.121.68 million. "A general increase of the advertising market allowed us to increase our sales objectives for 2004," said TVN's president Piotr Walter. In March the company finalized the purchase of TVN 24 from the ITI group for zł.168 million, by the end of April it had launched a new channel ITVN aimed at foreign viewers and August 1st saw the start of another new channel TVN Style aimed at women. The consolidation took place because of the IPO scheduled for October 2004, worth $ 100-150 million. In the first half of the year the TVN group had a 28.9% market share in prime time, 10% more than in 2002. (Puls Biznesu, p. 5) D.W.