Entertainment One warns of lower earnings after ABC cancels Designated Survivor

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Shares in Leisure One dropped greater than 2 per cent in early buying and selling after the group warned of decrease earnings subsequent 12 months on account of TV community ABC’s choice to cancel political drama Designated Survivor.

The present, which first aired in 2016, stars Kiefer Sutherland because the politician pressured to tackle the position of US President after an explosion leaves the unique President and his whole cupboard useless. Whereas the sequence received off to a robust begin, scores and viewing figures plummeted in season two, prompting ABC to drag the plug.

ABC introduced it was axing Designated Survivor over the weekend, and Leisure One stated in a press release to the London Inventory Change on Monday that it’s in “energetic discussions with different events for additional sequence of the present”.

The FTSE 250-listed group stated that whereas the cancellation can have no affect on its outcomes for the 12 months to 31 March, which might be printed later this month, “there could also be a modest affect on subsequent 12 months’s earnings, relying on the end result of discussions with different events”.

Nonetheless, the Leisure One added: “The group stays on observe to ship towards its said strategic administration expectations for the longer term.”

Peppa Pig is the corporate’s flagship present, producing a major chunk of the group’s revenues, and has confirmed an enormous success in Asian markets.

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