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Phoenix Sat-TV profits up 40% |
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| Chris Forrester, on 06-08-2008 |
 Hong Kong-based Phoenix Satellite TV (host Chen Luyu, pictured), 20% owned by News Corp, increased its net profits by 40%, with revenues up by 22% to HK$675m (US$86.5m).
Phoenix reported that mainland China’s interest in Phoenix’s news
output is increasing, and the past half-year’s ratings were boosted by
the earthquake in Sichuan province, Taiwanese elections and the
diplomatic talks between North and South Korea. Phoenix broadcasts in
Mandarin Chinese. Its programming is undoubtedly popular and some of
its news anchors are superstar celebrities on the mainland.
Phoenix has five channels, three of which are transmitted locally. Its
Chinese Channel started transmissions in 1996, followed by a movie
channel (1998) with its InfoNews channel having been launched on Jan 1
2001. Two “overseas” services are packaged. Its North American channel
launched in 2001 and is carried by EchoStar and DirecTV, while Phoenix
CNE has been on air since 1999 and is based in London.
Its latest results show profits on the news and general entertainment
channel, reduced losses on the movie and North American channels, and
an overall help from the strength of the Chinese Yuan compared to the
HK dollar, worth $3m overall in revenues.
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