Barrandov TV operator moves toward bankruptcy after failed restructuring

The operator of TV Barrandov, Barrandov TV Studio (BTS), is set to enter bankruptcy proceedings after an unsuccessful restructuring process approved by the court in mid-2024. The development was confirmed by owner Jan Čermák.

The company had entered reorganisation with debts of around CZK 1 billion, aiming to stabilise operations. However, a combination of declining advertising revenues and rising energy costs has undermined those efforts.

“We did our best to save the TV and the attempt alone cost me tens of millions of crowns. I regret the result because of the employees who were really trying, and because of the audience,” Čermák said.

According to the owner, the station had approached operational break-even last year, with advertising revenues covering running costs. However, market conditions deteriorated further, with advertising income reportedly falling to roughly one-third of previous levels despite stable viewership. Additional pressure came from a tax authority claim related to VAT refunds from before the insolvency process.

“Although we settled the economy last year, now there’s no way to keep the whole TV going and make up for the reorganization. Bankruptcy is now the only possible solution,” Čermák added.

Investment group S-24 holding, which participated in financing the broadcaster, stated that the Barrandov TV brand is expected to continue in a modified form. The group indicated that programming could remain available on at least one nationwide channel, following the acquisition of a broadcasting licence. The station is expected to operate in a limited or trial mode while its economic viability is reassessed.

Čermák acquired the broadcaster two years ago from Jaromír Soukup. While the television business faces insolvency, other parts of the former media group, including Empresa Media, are expected to continue operating.

The broadcaster’s channels, including Barrandov, Barrandov Krimi and Barrandov Cinema, recorded a combined audience share of 1.94 percent among viewers aged over 15 in March.

Source: CTK