OUTGOING TVN chief executive Peter Sweeney will front his board on Wednesday to explain the deal with Channel Seven that is costing the racing aggregator $2.2 million a year, while the free-to-air broadcaster pockets more than $8 million.
TVN SA, Poland’s second-biggest
television group, fell to the lowest level in almost a month as
Erste Group Bank AG downgraded the stock to reduce from hold,
citing worsening prospects for the local ad market.
TVN will start with a clean financial sheet for the racing network's second coming after discharging more than $27 million in debt as part of the deal to become aggregated television rights owner for Victoria and NSW racing.
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