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Sunday, 08.06.2025, 21:38
TV3 continued to post loss in Estonia
BC, Tallinn, 20.08.2013.
Print version
Print versionThe loss of Estonian commercial television station TV 3 increased by around 21% last year to 2.17 million euros, Äripäev Online reports.
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The sales revenues grew by 1% to 10.26 million euros, reported LETA.
"Advertising market was weaker than expected and the election advertising that supported the 201 result wasn’t there," commented TV3's CEO Priit Leito. "We will reach nearly zero in 2013, largely thanks to the good ratings of TV3".
TV3 received last year 2.2 mln euros of loans from its owner MTG Broadcasting AB, which brings the total debt of the TV channel to the parent company to 3.7 mln euros. Private channel Kanal 2, the main competitor of TV3, managed to post a loss of 484,000 euros last year on turnover of 9.94 million euros although in 2011 the company's profit was 198,000 euros.
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