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Paramount’s Channel 5 Increases Operating Profit In 2023 But Takes Hit On Huge $200M Payment To Viacom Interactive Subsidiary
Paramount's Channel 5 made a turnover and operating profit increase but made a loss after investing in Viacom Interactive Limited.
According to its full-year 2023 results posted on Companies House, the loss was solely down to an investment in Viacom Interactive Limited, which totalled a whopping £273M. The Channel 5 results noted that the loss came “despite” the All Creatures Great and Small network’s operating profit of £112.4M, which actually increased by 40% during what was a tough economic year for the wider industry. Despite the huge one-off payment to Viacom Interactive, Channel 5’s positive figures and a fifth consecutive year of ratings share growth were put down to “a combination of new and returning acclaimed drama commissions, factual favourites and agenda-driving documentaries.” The results pointed to the success of dramas including All Creatures Great and Small, which airs on PBS in the States, and factual shows like Captain Tom: Where Did The Money Go?.
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