UTV Media Gets Mixed Bag From Summer Of Sporting Events
Sport has "proved a double-edged sword" for UTV Media this summer, with Euro 2012 boosting TalkSport revenues but the London Games hitting the company's TV ad business, according to Mark Sweney of the London GUARDIAN. TalkSport was again UTV's "biggest success story" during the first half of '12, thanks largely to Euro 2012, which helped bump revenues up 16% to £17.2M ($27.2M). Since the beginning of July, however, UTV -- which owns the ITV franchise for Northern Ireland -- "has seen its TV business continue to struggle." UTV said the Olympics "did not provide any performance-enhancing effect on advertising revenue and as a result trading conditions for the third quarter have been less positive than anticipated." TalkSport's "successful performance" contributed to a14% increase in operating profits across UTV's radio operation to £10M ($15.8M). UTV's GB Radio division, which includes TalkSport, increased revenues by 3% to £10.7M ($16.9M) (GUARDIAN, 8/28).