France's M6 posts profits slump
Broadcaster suffers program cost risesPARIS – French private broadcaster M6 saw a small screen slump during the first half of this year with a 26.7% drop in net profit to 79.2 million euros ($124.7 million), the M6 group said Friday.
France's second largest commercial broadcaster suffered primarily due to increased programming costs including the 50 million euros ($78.7 million) spent on broadcasting rights to the Euro 2008 soccer games which proved unprofitable after France was eliminated early in the tournament.
The M6 group's revenue, however, remained stable at 709.1 million euros ($1.12 billion). The recent government move to eliminate advertising on public networks should allow M6 to pinch ad revenues lost by public channels over the coming months.