SBS Nederland has racked up losses to the tune of €176 million during 2012.
According to reports by Dutch radio station BNR Nieuwsradio, who obtained a copy of the broadcaster’s 2012 financial statements.
SBS Nederland, who runs the TV channel SBS6, Net5 and Veronica as well as the Veronica TV Guide, reported a turnover of €285 million over the year. The losses are due to a one-time write-off of €200 million of the company’s value.
Sanoma Image BV, the holding company in which all SBS activities are bundled, also has a €220 million debt to its shareholders Sanoma Media Nederland, John de Mol’s Talpa and banks.
The company bought the Dutch SBS channels in a joint bid with Talpa for €1.25 billion from ProSiebenSat.1 in April, 2011. The Dutch interests were put in Image BV, 67% owned by Sanoma and 33% owned by Talpa.
Last March, Georgette Schlick has resigned as CEO of SBS Nederland. Dick Molman, CEO of Sanoma Media Netherland, haas decided to leave the company at the end of 2013.