ITI, TVN’s parent company has published its 1Q07 results with EUR 4.8m loss, up from EUR 8.2m loss last year, on sales revenues of EUR 99.9m, up 29.5% y/, driven by revenues and costs related to launching of its TV digital platform ‘n’. ITI reiterated that it plans to launch more thematic channels by the end of this year, including a religious channel, kids channel ‘KidsCo’, teenagers channel ‘DaVinci’ and new entertainment channel.
Our view: We do not expect any major price impact of the news. ITI keeps investing hard in its thematic channels, which could end up being a part of TVN, over the long term, similar to TVN 24 news channel before.