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NENT announces SEK 700 mln Q4 charge for job cuts and FTA write-downs as it focuses on streaming

2019-12-10 09:47:00| Telecompaper Headlines

(Telecompaper) Nordic Entertainment Group (NENT) said it has cut jobs in order to save some SEK 250 million a year, as it aims to offset currency headwinds and support the expansion of its Viaplay streaming service. It has announced a one-off charge of approximately SEK 700 million for the fourth quarter in redundancy costs and writedown of free-to-air television content and other assets. There is no change to NENT's profitable growth commitment for 2020.

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