The start-up of Channel 5 cost almost £240 million but its losses in the first months of trading since its launch were not as bad as City analysts had predicted.
In the three months to end-June Channel 5 lost £23.1 million on top of the £215.5 million start-up costs written off by its shareholders. The figures came to light as United News & Media, a shareholder in the TV venture, announced financial results today (see today’s Profits Jump 15% At UNM). UNM wrote off £62.5m as part of the launch costs and a further £6.7m in subsequent running costs.
UNM: 0171 921 5000
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