TV2's radio station launched only a year and a half ago, will in fact change hands and name as of July 1st, with SBS Broadcast Denmark A/S taking over as majority shareholder and TV2 Denmark keeping only a minority stake.
"It is sad for TV2, that we now have to say goodbye to 136 excellent colleagues, said Merete Eldrup, TV2's CEO. "We thank them for their efforts, but have to admit that a savings plan is inevitable. TV2 is in a difficult economic situation; heavy investments combined with failing revenues mean that we have to be realistic and make an adjustment to our activities."
If the savings plan will hit all divisions of TV2, the budget for programming will not be changed and will on the contrary be reinforced as part of TV2's overall strategy to refocus on its core businesses. In spite of those drastic measures, the copmany said in a press statement that it still expects to have a DKK 120-140 million loss before tax in 2008.