Ignore shake-up, all's well: Prime

By KARYN SCHERER

Regional television operator Prime TV has denied speculation it is in deep financial strife, after more staff changes at the network.

In recent weeks, the company has made its national sales manager redundant and two other key staff have left.

Its financial controller resigned and its national promotions manager returned to head office in Australia.

Prime's general manager, John Spencer, yesterday confirmed the changes but denied they were the result of financial problems.

Mr Spencer said the company was seeking a new financial controller but did not intend replacing its national sales manager as the job was no longer considered necessary.

The national promotions manager was returning to Australia at the end of his one-year contract.

The changes follow concern in Australia about the future of the publicly listed company.

The managing director, George Brown, resigned suddenly in November after the company's first profit slump for many years.

The slump has been largely blamed on a disastrous foray into Argentina's volatile television sector. No replacement for Mr Brown has yet been announced.

The company revealed last September that its New Zealand arm had made a loss of $A4.3 million in its first 10 months of operation.

However, the channel claimed that it was pleased with progress and reiterated its belief that it would not make a profit for another three years.

Mr Spencer conceded the channel was about six months behind its business plan but denied there was any concern. In recent weeks, advertising had picked up strongly.

"In actual fact, we are doing very well. Revenue has grown every month and our key audience is growing every month."

The channel is taking an average 3.5 per cent share of prime-time viewing.