Date: 13th November 2000

Entertainment Companies Show Profit Plunge

Profits at entertainment, media and communications companies fell 17.9 percent in 1999, according to a report by New York investment bankers Veronis Suhler. The company, which examined 560 publicly traded companies, said that their efforts to launch Internet businesses were the primary cause for the overall downturn. It was the first time in five years that their profits had declined, the report said.

Source: Studio Briefing