Losses jump at TV3 but ‘storm weathered’

Annual losses at independent broadcaster TV3 jumped by nearly 4% last year from €6.77m to €7.04m.

As well as the total loss figure, the Ballymount-based broadcaster’s group results — which were published yesterday and cover both the main TV3 station and its sister channel, 3e — show that the company generated earnings before interest, tax, depreciation and amortisation (EBITDA) of €5.8m last year and operating profits (after exceptional items) of €1.4m.

That was despite expenditure associated with a new trading scheme and costs associated with the new Sony high-definition studio.