N24 expects positive financial results
Jörn Krieger | 04-12-2012
German news channel N24 expects to reach financial break-even this year: "The N24 group will conclude 2012 with a positive result below the line," managing director Torsten Rossmann told German business newspaper Handelsblatt.
Last year, N24 already achieved in-the-black figures before tax. The main reason is the increasing advertising income which will grow by a two-digit percentage figure in 2012. Among the viewers aged between 14 and 49, N24 now reaches an average audience market share of 1.5%, 0.1% more than in 2011.
Rossmann acquired the commercial broadcaster in conjunction with the Stefan Aust, the former editor-in-chief of weekly news magazine Der Spiegel from TV group ProSiebenSat.1 in June 2010.
"The management-buy-out two-and-a-half years ago has been a very good decision from today's point of view," said Rossmann. "We have provided evidence that it is possible to produce high quality and competitive news with less expenses."