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Polish TVN expects ad revenue growth, plans buyback at year-end
August 27, 2014 / 5:50 AM / 3 years ago

Polish TVN expects ad revenue growth, plans buyback at year-end

WARSAW, Aug 27 (Reuters) - Polish broadcaster TVN sees its 2014 advertising revenue growth at mid-single digits, expecting changes in its programming to help raise its audience share, the group said on Wednesday.

The group, which broadcasts Polish versions of MasterChef or Project Runway to compete with larger rival Cyfrowy Polsat , expects its overall 2014 sales to grow less than in advertising due to lower thematic channel income.

TVN also said that it expected to hold another buyback offer worth 120-150 million zlotys ($38 million-$47 million) at the end of the year. It already bought its own shares worth 100 million zlotys ($31.5 million) in the first tranche of the buyback programme. (1 US dollar = 3.1790 Polish zloty) (1 US dollar = 3.1763 Polish zloty) (Reporting by Adrian Krajewski)

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