STV says revenues continue to recover
Nov 06, 2009
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Scottish TV broadcaster STV predicts 2% growth in national television advertising revenues although local advertising remains lower.
The national ad market was flat in the third quarter. the local ad market declined 115 in the third quarter but the pace of decline should fall to 7% in the fourth quarter.
National advertisng will still be 11% lower over the year and local advertising 13% lower.
STV is in dispute with ITV, which launched a legal claim for a potential net figure of £15m-£20m (£38m gross). STV refutes the claim and argues ITV owes it £35m gross and this offsets the ITV claim.
STV says that it will contineu to make Taggart even if it is not recommissioned by the ITV network. ITV's failure to recommission Taggart has reduced 2009 earnings by £2m.
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