November 7, 2019 / 6:51 AM / 7 days ago

ProSieben keeps guidance even as decline in core TV ads gathers pace

BERLIN, Nov 7 (Reuters) - German broadcaster ProSiebenSat.1 Media on Thursday maintained its guidance for the full year despite core profits slipping by 35% in the third quarter as a decline accelerated at its core television advertising business.

CEO Max Conze is trying to pull off a pivot away from linear TV, where revenues declined by 6%, to growth areas spanning content production, e-commerce and digital advertising that grew by 13% in the quarter. (Reporting by Douglas Busvine Editing by Michelle Martin)

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