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Latest Satellite News Discussion, TF1 prepares new spending cuts at General Satellite News forum; TF1 prepares new spending cuts Pascale Paoli-Lebailly RapidTVNews | 20-06-2012 The management of French private broadcaster TF1 has condemned unfounded ...

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TF1 prepares new spending cuts - 20-June-2012, 20:20

TF1 prepares new spending cuts

Pascale Paoli-Lebailly RapidTVNews | 20-06-2012


The management of French private broadcaster TF1 has condemned unfounded reports of job-cutting plan, representing 10% of its workforce.
The media group says it is not working on a voluntary departure plan, reported to be called Fitness but on a new spending cuts program.
It is true however that even though it is not losing money at the present time, TF1s stock exchange value has been beneath M6s for a few days. In May 2012, TF1 posted a 36.4 million net profit for Q1 of 2012, showing a 24.5% decrease compared to the previous year.
TF1 group reiterated its assumption of stable consolidated revenue over 2012 as a whole, with priority given to cost control. Its objective is to maintain controlling its programming costs, with an objective of 930 million on average over 2012 and 2013. However, the economic climate remains unstable, and TF1 channel ad revenues set back 4 % on Q1 of 2012 over the year.




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