1 Mar 2013

TVNZ posts half-year profit

1:53 pm on 1 March 2013

State-owned broadcaster Television New Zealand has posted a half-year profit due to a fall in advertising revenue and more purchasing of overseas content.

TVNZ made more than $14 million in the six months to December, compared with $19 million in the same period a year earlier.

Operating earnings fell nearly a quarter due to increased investment in both local and international programming content.