ENGLEWOOD, Colorado: Liberty Global, the media group operating in countries from South America to Central and Eastern Europe, posted a loss of $788.9 million (£547.6m; €619.5m) last year, largely thanks to an increase in expenditure in the last quarter.
The company's worldwide revenues rose by 17% to $10.6 billion in 2008, and it added some 2.4 million subscribers to its TV, voice and internet services, taking its overall user base to 17 million.
However, it lost $752.6m in the final quarter, despite an increase in revenues of 4% to $2.6bn, largely due to spending on infrastructural development and purchases by its Japanese and European units.
Among its TV operations, revenue growth in Chile – through its multichannel service VTR – rose by 17.9%, while its Japanese arm J:COM and Australian pay-TV service Austar also posted double-digit growth rates for the year.
The company's worldwide revenues rose by 17% to $10.6 billion in 2008, and it added some 2.4 million subscribers to its TV, voice and internet services, taking its overall user base to 17 million.
However, it lost $752.6m in the final quarter, despite an increase in revenues of 4% to $2.6bn, largely due to spending on infrastructural development and purchases by its Japanese and European units.
Among its TV operations, revenue growth in Chile – through its multichannel service VTR – rose by 17.9%, while its Japanese arm J:COM and Australian pay-TV service Austar also posted double-digit growth rates for the year.
Data sourced from Wall Street Journal; additional content by WARC staff
