TORONTO – CW Media Holdings, the CanWest Global-Goldman Sachs holding company which owns the former Alliance Atlantis specialty channels (HGTV Canada, History, Showcase, National Geographic etc.) reported increases in revenue and audience share during the first quarter of fiscal 2009, ended November 30th, 2008.
Revenue was $106.1 million ($33.7 million from subscribers, $66.6 million from ads). On a pro forma basis (because a direct comparison is not possible as the holding company as it now stands didn’t exist last year) that was an increase of over 9% compared to Q1 2008.
However, after expenses and a $57.1 million foreign exchange loss is factored in, CW Media posted a net loss of $53.3 million, as compared to pro forma net earnings of $19.1 million in the first quarter of fiscal 2008.
Audience share for the channels, collectively, showed improvement in the quarter, led by History Television, which is now the #2 rated specialty channel, behind TSN. Showcase was in fifth, HGTV sixth, and Food was 10th.
Among digitals, Showcase Action was the overall leader with Showcase Diva and National Geographic Channel tied for third, behind CanWest Global digital, Mystery.
