Profits at Portuguese cable and satellite operator PT Multimedia fell to €11.5 million in the third quarter, from €16.9 one year ago, as the company was hit by costs connected with its impending spin-off from Portugal Telecom.
TV Cabo added 26,000 new pay-TV subscribers bringing the total to 1,521,000, increasing revenues by 7% to €176.9 million, and EBITDA by 8.8% to €56.8 million. Churn levels also fell and the cablenet has recently further bolstered its basic and extended basic cable packages with the introduction of Bloomberg España, Phoenix Infonews, Deutsche Welle, Inter+, RTR-Planeta, TVR International, TV Bulgária, Cubavision Internacional, Phoenix CNE and Vesti.
The digital extended basic package now reaches 356,000 subscribers, up from 222,000 one year ago.
It is anticipated that PT Multimedia’s spin off from the incumbent telco will take place on November 7.