Published: 07.38 Europe/London, May 10, 2011

The leading Czech broadcaster TV Nova had debts of $634.8 million (€441.8 million) last year, or around $10 million less than in 2009.

E15, which obtained the figures from documents published by TV Nova’s licence holder CET 21, points out that due to currency fluctuations the broadcaster’s debts in Czech crowns actually increased slightly over the same period, from CZK11.66 billion to CZK11.7 billion.

However, it adds that the debts should not be a source of concern for TV Nova, given that its operating profit before interest, taxes, depreciation and amortization in recent years has been around CZK2.3-2.4 billion per annum.

Its largest creditors include CME Investment, which owns 0.004% of CET 21 and was last year owed around CZK6.9 billion.