ProSiebenSat.1 revenues drop 9% as TV ad market weakens and rivals held World Cup rights

German broadcaster ProSiebenSat.1 reported a 9% revenue decline in the first half of the year, with group revenue reaching €1.5 billion. The company blamed a weak TV advertising market, asset disposals, and the fact that rivals held soccer World Cup broadcast rights. Despite the revenue drop, it posted an EBITDA profit thanks to cost-cutting and reorganisation.