German media company Constantin Medien expects its sports business to grow again.
The activities bundled in its Sport1 segment would have good prospects to achieve a 15% increase in turnover this year, Bernhard Burgener, chairman of Constantin Medien’s management board, said at the company’s annual general meeting in Munich. In 2013, revenues dropped by 8%.
“Sport1’s platforms – be it free-to-air TV, pay-TV, online, mobile, digital radio or social media – are successful in their markets and grow,” said Burgener. In particular, the digital platforms would contribute to the positive development.
Burgener also announced that Constantin Median would continue its legal battle regarding financial participation in the revenues from the sale of Formula 1 shares to financial investor CVC in 2006. In the court case set in London, the successor company of EM.TV demands at least $171 million (€128 million) in compensation from Formula 1 boss Bernie Ecclestone and other people.
