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London Live Struggles As It Makes GBP1.3m But Loses GBP11.6m

Evgeny Lebedev’s TV station London Live made an operating loss of GBP11.6m in the year ending September 2014, after launching in March last year. According to owner ESI Media, the local TV channel made revenue of GBP1.3m over its first six months on air.The company said that the channel’s trading loss for the year to September 2014 was GBP10m excluding exceptional start-up costs and year-end accounting adjustments. Earlier this year, London Live announced plans to reduce its staff from around 60 to 40.

Read the whole story at Press Gazette »

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