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NBCUniversal International Posts Record Pre-Tax Loss Following $130 Million Write Down on Investments
NBCUniversal International has posted a record pre-tax loss following a $130 million write down on investments.
U.K.-based entity NBCUniversal International Limited, which wholly owns a number of production outfits including “ Downton Abbey ” producer Carnival Productions, Working Title Television and “Harry Potter” producer David Heyman’s Heyday Television, did not specify which investments it had written down. A source told Variety the figure was a reflection of the write-down on investments and not the company’s performance, given operating profit was only slightly down from the previous year’s result of £1.5 million. The report, which noted there had been a “reduction in turnover in the current year in line with reduced costs across the business,” set out numerous risks faced by the company, which included “competitive pressures within the entertainment industry, a challenging macroeconomic environment, rapid technological change and increased risk of piracy.”
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