Friday, April 27, 2012

GMA-7 magtitipid ngayong 2012

GMA-7 plans to reduce programming costs and trim capital expenditure from nearly P896 million in 2011 to P650 million for 2012.

Two new stations are planned in the Ilocos and Bicol regions. The rest of the funds will be to upgrade towards high definition programming.

Despite posting lower profits, rival ABS-CBN has set a higher budget for expansion this year to diversify its revenue stream and ensure future growth.

Last week, company officials reported that profits fell nearly a quarter in 2011, from a net of P3 billion in 2010 to P2.4 billion in 2011, following an industry-wide drop in earnings from massive spending cuts by big advertisers.

A one-time gain from the sale of a stake in Sky Cable Corp., coupled with the company’s more diversified revenue stream helped save ABS-CBN from a worse decline, officials said.

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