TV Nova success continues

TV Nova has firmly established itself as CME’s best performing operation in Central and Eastern Europe. Latest results published by CME show that its net income in Q4 2006 amounted to $71,384,000 (€54,017,404) and $208,387,000 for the year as a whole. In each case, this represented around a third of the company’s total net revenues for the region. The next most successful were CME’s operations in Romania ($148,616,000 in 2006 and $51,679,000 in Q4), followed by Ukraine’s Studio 1+1 ($96,413,000 and $34,297,000). CME’s net revenues for the region as a whole in 2006 were, at $603,115,000, 50% up on the previous year. Operating income was meanwhile up by 170% to $140,674,000, but net income down by 52% to $25,287,000. The latter, according to CME, was due to a “restatement” of previous figures due to accounting errors. (CD)