Dutch Network SBS Nederland Books $233 Million in Losses
COLOGNE, Germany – SBS Nederland, the Dutch broadcasting group bought by John de Mol's Talpa Media and Finish media group Sanoma for $1.65 billion (€1.25 billion) two years ago, booked $233 million (€176 million) in losses last year, according to Dutch media reports.
SBS financial statements obtained by Dutch radio station BNR show that a onetime write-off of $264 million (€200 million) hit the SBS bottom line.
Revenue for the group, which operates Dutch commercial channels Veronica, SBS6 and Net5, was $377 million (€285 million) for the year, the report said.
Sanoma and Talpa made a successful joint bid for the Dutch SBS channels, previously owned by German broadcast giant ProSiebenSat.1, in 2011. Sonoma holds a 67 percent stake in SBS Nederland, while Dutch-based Talpa, producer of The Voice, holds 33 percent.