The Czech commercial station TV Barrandov plans to raise around a further CZK200 million (€7.64 million) in capital ahead of the autumn season in order to compete more effectively with broadcasters such as TV Nova and Czech Television (CT).
E15 reports that Barrandov Television Studios (BTS), the station’s operator, has approved the increase, bringing the total capital to CZK797.4 million. Preferred shares will be offered principally to companies such as Moravia Steel, which together already own 99% of TV Barrandov.
TV Barrandov is one of a new generation of TV stations in the Czech Republic that made its debut when the country began its transition to digital broadcasting.
Its start up costs were around CZK1 billion, of which 30% was allocated to programming, and it is expected to break even by 2014.