Premiere scraps 2008 outlook over TV rights timing

German pay TV broadcaster Premiere, whose profits depend largely on its ability to show live Bundesliga football matches, scrapped its 2008 forecast on uncertainty over the next TV rights auction.

“The bidding process will begin much later than expected and an agency has been commissioned to manage the process. We cannot rule out that this new development could impact potential and existing subscriber behaviour,” a Premiere spokesman said.

Premier had targeted 4.75 million subscribers by the end of 2008, sales of more than E1.2 billion and a core profit of E180 million to E200 million.

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