Love Hurts but profits double
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.SELECTV, the sitcom maker that owns 15 per cent of Meridian Broadcasting, more than doubled its pre-tax profits to pounds 423,000 in the year to 31 March, helped by new programmes such as Love Hurts, writes Patrick Hosking.
Meridian, which won the Channel 3 franchise for the south of England and begins broadcasting on 1 January, would take 'some time' to produce any dividend income, SelecTV warned.
Michael Buckley, chairman, said SelecTV, which itself is paying no dividend this year, might pay one next year; if not it would be sure to the following year.
SelecTV raised pounds 5.6m from its shareholders in December to pay for the Meridian stake. After the dilution of this, earnings per share rose 41 per cent to 0.38p.
SelecTV is producing two comedy series for Meridian, Full Stretch and Thick As Thieves, and a special starring Michael Palin and Tracey Ullman.
The shares fell 1p to 12 1/2 p, compared with the 17p rights price.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments