The German ProSiebenSat.1 group has lowered the financial outlook for the current year, downwards from €785 million to between €670-700 million. The broadcaster blames the downturn on the current economic climate and new advertising rules.
“After a good start in July and August the turnover figures from September and early indications for October are showing that the German “free-TV” business will not be able to meet its expectations during the second half of 2008,” the company said in a statement.
