Sweden’s TV4 has recorded the best ever results in the company’s history. TV4 Group produced profits of SEK761 million for the year ending December 31, 2009, on the back of a good TV advertising market, investment in new media and the development of niche channels.
Jan Scherman, CEO TV4-Gruppen, said the broadcaster had already begun to make cost savings against the economic downturn, securing resources for programme content, and avoiding any layoffs.
Last December TV4 completed the acquisition of C More Entertainment, operator of the Canal+ channels in the Nordic region. Figures from Canal+ will be consolidated in the next financial statement.
The mother channel TV4 is Sweden’s largest commercial broadcaster with a 19.7%. The move to digital transmissions in the country saw a growth during 2007 in so-called ‘other channels’ that between them now take an audience share of 37%. Of this, TV4-branded channels took 23%, an increase of 25% over the last 12 months.