The Hindu Business Line : GBN in the black; posts net profit of Rs 1.78 crore

New Delhi, Feb. 1 Global Broadcast News Ltd, the company behind the news channels CNN-IBN and IBN7, has reported net profit of Rs 1.78 crore during the third quarter ended December 31, 2007 as against a loss of Rs 9 crore during the corresponding quarter the previous year.

Revenues increased by 53.7 per cent from Rs 25.21 crore to Rs 38.75 crore.

“This quarter GBN acquired interest in the non-news (entertainment) space through Viacom18 which will make GBN a fully integrated broadcasting player with leading brands across genres. CNN-IBN and IBN7 are leading brands in News, MTV and VH1 holds leadership position in music, Nickelodeon is rated as one of the most sticky kid’s channels and Studio18 distributed two of the most successful films of 2007. This quarter CNN-IBN received two of the most prestigious Television Awards (Indian Tele Awards and Indian Television Academy Awards) for the ‘Best English News Channel’,” said Mr Sameer Manchanda, Joint Managing Director, Global Broadcast News.

The revenues for the company’s English news channel CNN-IBN were up 54 per cent on a year-on- year basis. EBIDTA was at Rs 10.38 crore as against a loss of Rs 3.88 crore in the corresponding quarter in the previous year. The Hindi channel IBN7’s revenues were up 135 per cent from Rs 6.91 crore to Rs 16.26 crore on a year-on-year basis.

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