15-05-2011

Romanian TV Announces 2010 Deficit

Written by Iulia Blaga

BUCHAREST: Revenues rose slightly, but not enough to cover the 2010 deficit at Romania's state broadcaster. Romanian public television station SRTV (www.tvr.ro) recorded a deficit of 38.5 million euro (162 million RON) in 2010.

The total revenues in 2010 were 136 million euro (571 million RON), while the net turnover was 124 million euro (532 million RON).

The total revenues from advertisements rose to 8.9 million euro (37. 37 million RON), up 5.5% from 2009. The report also stated that public television owes almost 8 million euro to Splendid Media (www.splendidmediagroup.ro), the agency managing the advertising for SRTV.

Speaking about the report, Alexandru Lăzescu, the president-general manager of SRTV, said that 2010 was a difficult year for the public broadcaster, with management changes and financial recovery measures under way. Alexandru Lăzescu was appointed president-general manager in June 2010.