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Our Bureau

New Delhi, July 27 Global Broadcast News (GBN), which owns CNN-IBN and IBN -7 news channels, has announced a net loss of Rs 3.50 crore for the quarter ended June 30. The company says it is a 73 per cent reduction on the loss of Rs 13.21 crore reported during the corresponding quarter the previous year.

A part of the Television Eighteen Group, GBN reported a growth of 138 per cent in gross revenues at Rs 24.35 crore during the quarter as against Rs 10.22 crore. “Overall, the media sector is in a dynamic growth phase, calling for quick responses. GBN is geared to take advantage of such opportunities and strengthen its leadership position as a media house. We are on track to fully leverage our business model for sustained growth going forward,” Mr Sameer Manchanda, Joint Managing Director. It claims leadership for its channel in the English News segment with a market share of 34 per cent.

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