ProSiebenSat.1, the German broadcaster, said its first-half revenue fell 9% from a year earlier, citing a weak TV advertising market, asset disposals and the fact that rivals held the rights to the soccer World Cup.
The group still recorded an EBITDA profit in the period, aided by cost cuts and a reorganization. Total revenue was €1.5 billion ($1.73 billion). Growth in streaming and digital advertising was more than offset by the decline in traditional TV advertising and competition from the FIFA World Cup, the company said.
In the United States, outlet mall operator Tanger said its summer traffic and sales were boosted by the World Cup, with CEO Stephen Yalof pointing to the tournament as a driver.