SINGAPORE : MediaCorp TV Holdings, which operates the company's
Channels 5, 8, U and its studios, has said it expects to reverse
the losses of its merged operations.
It predicted it would become profitable by the end of the current
financial year in March 2006, while Channel U's losses are expected
to be reduced.
MediaCorp's Deputy Group CEO (TV), Chang Long Jong, revealed this
to reporters at a trade launch for the re-branding of Channel
U.
Channels 5 and 8 were almost at break-even in the last financial
year ended March 2005. But then came the media merger which saw
Channel U brought into the fold under MediaCorp TV Holdings.
Mr Chang said the merger was a major factor contributing to the
$11.5 million loss for MediaCorp's TV operations last year. But
things have been looking up since.
In the first five months of the current financial year, from April
to August, Channels 5 and 8 have been profitable, while Channel U
is narrowing its losses.
Mr Chang said: "Channel U is gaining ground. We are still running
at a loss, but looking at the combined entity of the TV business
... we are almost at break-even point. And looking ahead ... we are
very happy to announce that we are actually looking at a profit by
the end of the financial year."
Channel U itself is going through a re-branding exercise.
Advertisers were given an insight into its plans as it aims to be
Asia's entertainment channel for the hip and trendy. - CNA/de
