RTL Group Books Euro 77m Impairment On Hungary Unit
- 6 Mar 2015 8:00 AM
RTL Group recorded 77 million euros of goodwill impairment at its Hungarian unit last year in an earnings report on the back of the “punitive” ad tax that came into effect in August 2014. RTL Hungary had negative EBITDA of 1 million euros last year, compared with a positive 15 million in 2013.
RTL Group filed a complaint with Brussels over the ad tax after it was introduced saying that its local business is the only one in top bracket of the tax, which puts it in a “structurally loss-making position”.
RTL Group’s share of the prime time TV audience between the ages of 18 and 49 was 36.6% last year, down from 38% in 2013.
Source www.hungarymatters.hu
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