M6 Group reveals coronavirus impact
French broadcaster M6 Group has outlined the impact the coronavirus pandemic is having on its business and how it is responding.
M6 Group has warned the postponement and cancellation of advertising campaigns will have a significant effect on its revenue in the second quarter of this year.
To manage the situation, it has taken measures to cut costs, including temporarily reducing its workforce.
The broadcaster will give further information on its ad revenue and savings plan in its next financial report on April 28.
M6 said it has also been impacted by the shutdown of programme production at subsidiaries Studio 89, C Productions and Golden Network, as well as the production and distribution of SND and M6 Films.
The group added that the finalising of the sale of its German subsidiary iGraal to Global Savings Group for €35m (US$38m) should help its situation.
“Thanks to the group’s strength, its diversity and the determination of its employees, the group can look forward to a strong recovery once the health crisis has ended,” the company said.