Telegraaf group sales down 11% due to crisis

Friday 08 January 2010

The Telegraaf Media Group, which publishes the Netherlands' biggest selling newspaper, saw sales down 11% last year at €600m.

In particular, advertising income was hard hit by the crisis. Operating profit fell 25% to €45m, the NRC reports.

TMG, which is listed on the Amsterdam stock exchange, is also owner of a number of regional freesheets, has a majority stake in Sky radio and owns the GeenStijl and Relatieplanet websites.

The newspaper itself is in a 'turbulent media landscape... with increasingly obvious competition from the public sector broadcasters,' board chairman Ad Swartjes was reported as saying.

The public broadcasters are partly taxpayer funded and partly funded by advertising. .

TMG is also owner of two new public broadcasting companies which won concessions in 2009 and will hit the airwaves later this year.

© DutchNews.nl

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