ProSiebenSat.1 revenue slipped 9% in the first half with the German broadcaster blaming disposals, a declining TV advertising market and the fact that its competitors had the rights to the soccer World Cup. The Group revenue figure was €1.5BN ($1.73BN), down 9%. ProSiebenSat.1 said the reason for the ad revenues drop-off was both structural, as money moves away from traditional TV, and cyclical, as rivals aired the World Cup. In terms of programming costs, ProSiebenSat.1 has changed the way it records content costs over time. In a challenging environment, we are determinedly driving forward the transformation of ProSiebenSat.1 Group – with a clear focus on entertainment, strict cost discipline, and targeted investments in our future.”