No end in sight for TV station Tele5's financial troubles

These reports disclose that Fincast's situations is still deteriorating, with its net loss increasing by zł.1.1 million to reach zł.4.1 million in April, and rising to zł.4.8 million at the end of May. "It has to be taken into account that the company has undertaken an attempt to rationalize its costs and the valuation has to take into account the long term perspective," said Mariusz Janczara, a court representative. Unofficially, company representatives blame the situation on falling viewership and a decrease in revenues from advertisements. So far the courts have identified over 180 of Fincast's creditors. At the end of May Fincast had zł.58.8 million in short-term debts. Meanwhile, the value of its assets amounted to zł.10.2 million. (Puls Biznesu, pp.1, 6) A.K.