Fiji TV records $9m profit
Fiji TV records $9m profit
DESPITE a consolidated group net loss after tax of $668,000 compared with a profit of $1.63 million for the previous year, Fiji Television Ltd still recorded an overall net profit after tax of $9m.
This is compared with the marginal net profit after tax from the previous year of $0.04m.
This was revealed in the Fiji TV 2016 Annual Report, which was released yesterday.
Fiji TV chairman Apakuki Kurusiga said the net loss from the consolidated group was a direct result of accounting adjustments from the subsequent disposal of key Papua New Guinea subsidiary, Media Niugini Ltd.
“Total revenue for the Holding Company recorded a healthy $10.75m for financial year 2016. This represented a sizeable increase of 31 per cent compared with the previous financial year,” Mr Kurusiga said.
However, he added, the Consolidated Group revenue stood at $10.88m reflecting a 29 per cent decrease from the previous year.
As expected, he said, the comparative consolidated statement of comprehensive financials had been restated to reflect the discontinued operations from Sky Pacific and MNL separately from the continuing operations of Fiji TV.
Meanwhile, by the end of 2016, Fiji Television Ltd will be operating out of its new home.
“That means Fiji’s first commercial television station will vacate its current 20 Gorrie St home of 22 years and transition to its new home at 1 Brown St, ushering in literally a new era for your company.
“Fiji TV can’t be all things to all people, but we acknowledge that as a pioneering television broadcaster we must strive to try and serve all audiences,” Mr Kurusiga said.
In their attempt to address the ever growing impacts of disruptive technologies, he said, their business model continued to evolve.
XTreme-AsiaSat to provide 4K premium UHD content
From http://www.indiantelevision.com/satellites/satellite-operators/xtreme-asiasat-to-provide-4k-premium-uhd-content-160922
MUMBAI: 4K-SAT, the Ultra-HD channel operated by Asia’s premier satellite operator Asia Satellite Telecommunications Co. Ltd. (AsiaSat), will be broadcasting premium extreme and outdoor content from XTreme Video on AsiaSat 4.
XTreme Video is producing the best 4K content for extreme sports fans worldwide. Its UHD content on 4K-SAT will include some of the most stunning extreme and outdoor content, such as the successful mountain biking series ‘MTB Insights’ and the world’s wildest freestyle motocross show ‘Masters of Dirt’.
“The brilliance of 4K definition truly comes into its own when the subject matter is as visually captivating as extreme and outdoor programming. We’re committed to bringing the highest quality programming to audiences around the globe, via partnerships with platforms, broadcasters and partners like AsiaSat,” said Joe Nilsson, senior director of business
“XTreme Video offers exciting, adrenaline pumping programs that are very popular amongst viewers of all ages that are interested in extreme sports. We want to bring an immersive quality viewing experience to viewers via our platform on AsiaSat 4,” said Sabrina Cubbon, vice president, marketing and global accounts of AsiaSat.
‘4K-SAT’ continues to impress major TV operators and viewers across the region with unique and compelling UHD content in fashion, lifestyle, nature, movies, TV series, documentaries, extreme sports and technology.
Since 1994, XTreme has been the home of independent creators capturing and documenting the culture, locations and stories of extreme activities. Asia Satellite Telecommunications, the leading satellite operator in Asia, serves over two-thirds of the world’s population with its six satellites.
