Etv owner posts R1.6-billion loss

R13... said:
Their report is public maybe they break it down enough for you to decipher
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Quick scan through. They decreased the Goodwill by almost exactly that amount. Everything else is stable. The explanation now that SABC is to blame seems even more dodgy.


Just for some people that don't know how the accounting works.
Goodwill isn't good. It is an imaginary asset that they don't have. They have now decreased their imaginary assets that they didn't have in the first place and that resulted in a loss wiping R1.6 billion of their books.

And thats not all they still have more R2 billion more Goodwill. 1/3 of their assets is imaginary.
 
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So was the past year's profit an anomaly? Or did SABC do something amazing worth R1.6b of market share in this year?
 
Everything started going downhill when they stopped Walker, Texas ranger and the Anaconda reruns.
 
R13... said:
This passage?

“e.tv’s share of broadcast audience remains under pressure, mostly due to the popularity of local dramas commissioned by the SABC,” eMedia said.

The company said it faced unfair competition from the public broadcaster as the SABC is subsidised and commissions a large amount of local content.

“While the SABC commissions a substantial amount of local programming, at much higher cost than equivalent international content, our ability to commission additional local drama is limited by our production budget and profitability,” eMedia said.

“Our schedule will remain under pressure while the SABC continues to operate under a subsidized regime,” the company added.
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Okay. Thanks. I thought it was something else.
 
R1.6 billion? Sounds like Gupta numbers, you know the ones that Zuma cannot pronounce..

Who let the Indian uncles fiddle with E?
 
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