TVN24 losses down, Onet.pl revenues also down

Over the first quarter, revenues from advertising generated by private television TVN stood at $35.6 million. At the same time its owner, ITI Holding, claims that TVN's news channel, TVN24, is on track to achieve profitability this year. In the first quarter, TVN24 managed to reduce its loss from $2.9 million to $700,000. Last year TVN24 recorded the largest loss of all subsidiaries owned by ITI Holding. In related news, the revenues of ITI's internet portal, onet.pl dropped from $3.05 million in the first quarter of 2002 to $2.06 million in the same period this year. The consolidated operational profit of the entire holding amounted to $2.3 million. The revenues of the group increased by 37% to $46.3 million. (Gazeta Wyborcza, May 17-18, p. 27) A.Z.