×

Once registered, you can:

  • - Read additional free articles each month
  • - Comment on articles and featured creative work
  • - Get our curated newsletters delivered to your inbox

By registering you agree to our privacy policy, terms & conditions and to receive occasional emails from Ad Age. You may unsubscribe at any time.

Are you a print subscriber? Activate your account.

News nets suffer in Europe, Asia

By Published on .

[lyon, france, and singapore] Thanks to an emergency-financing agreement, Euronews, a struggling multilingual pan-European news channel, will get enough money to continue broadcasting through June 2003, but the nine-year-old cable and satellite channel's failure to win ad revenue and viewers has put its future in jeopardy. Euronews loses about $3 million a year. The short-term bailout will let U.K. broadcaster ITN sell its 49% stake in Euronews. The remaining shareholders are a consortium of 19 European broadcasters. Euronews may be recast as a public-service broadcaster. Separately, CNBC Asia laid off 40 of its 175 staffers in Asia and Mark Froude, senior VP-advertising sales, has left. In September, CNBC Europe laid off 25 people in London.
Most Popular
In this article: