Loonland squeaks into black for Q3
EmptyCOLOGNE, Germany -- TV-Loonland boosted revenue by 38% to €4.5 million ($5.8 million) and turned a slim profit in the third quarter, prompting the German kidvidder to say it has turned a corner since its management shake-up last April.
Loonland, which presented new animation series "The Owl" and "Face Academy" at Mipcom Jr. last month, turned a €1 million loss in third-quarter 2005 into a marginal €30,000 ($38,400) net profit last quarter.
Loonland's new management, installed after a hostile takeover earlier this year, said the turnaround was due to a better focus on "what broadcasters are currently really interested in ... and formats that work on various platforms especially mobile and Internet platforms."
Loonland said it will not break even this year but will return to profitability in 2007.