Russia’s Gazprom-Media, whose interests include NTV, TNT and the DTH platform NTV-Plus, posted a profit of R31.1 billion (€825.9 million) in 2009.
This, according to Vedomosti and Lenta, was 16% lower than the previous year.
Given the fact that the actual costs of the holding remained the same, the operating profit fell by 2.5 times to R3.9 billion.
Commenting on the results, Gazprom-Media’s head of development Irina Zenkova said they were due to the global financial crisis and in particular the slump in advertising revenue, which was down by a quarter.
The biggest fall in revenues was experienced by the TNT channel.