Europe's Largest Broadcaster RTL Makes Record Profit of $1.5 billion
Overall revenue jumped 8.5% to $7.7 billion at broadcaster controlled by Germany's Bertelsmann group.
COLOGNE, Germany -- Europe's largest broadcaster, RTL Group, earned a record $1.5 billion (€1.1 billion) in 2010, boosting operating (EBITA) profits by nearly 40% over 2009, the companyannounced Tuesday.
The preliminary results indicate RTL, which is controlled by Germany's Bertelsmann group and owns 40 TV channels across Europe as well as American Idol production house FremantleMedia, has more than bounced back from the ad crash that shook European TV three years ago.
TV ad markets surged across Western Europe last year, where RTL's operations are concentrated.
Overall revenue jumped 8.5% to $7.7 billion (€5.6 billion). RTL will publish its official 2010 results March 10.