Lighter by three hundred staff and shorn of its film-making arm, FilmFour, Britain's state-owned commercial broadcaster Channel 4 says it will move back into profit during its current fiscal ending December 31.
C4, which plunged into the red last year with a post-tax loss of £20.6 million ($32.55m; €32.24m), has slashed its cost base by £36m, while its lossmaking commercial arm 4Ventures is forecast to halve its losses to £30m. Digital entertainment channel E4 is also expected to lop upward of fifty per cent from its deficit.
At the same time, viewing levels are rising as is advertising income. The former is set to take 9.6% of the national peaktime audience this year compared with 9.3% in 2001; and ad revenues are predicted to better 2001 by around 4.5%, totalling £632m.
But there is a bitter pill. FilmFour’s closure will incur redundancy charges and asset writedowns amounting to £28m.
Data sourced from: MediaGuardian.co.uk; additional content by WARC staff