Entertainment One warns of lower earnings after ABC cancels Designated Survivor

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Shares in Leisure One dropped greater than 2 per cent in early buying and selling after the group warned of decrease earnings subsequent yr as a consequence of TV community ABC’s choice to cancel political drama Designated Survivor.

The present, which first aired in 2016, stars Kiefer Sutherland because the politician compelled to tackle the position of US President after an explosion leaves the unique President and his complete cupboard lifeless. Whereas the sequence acquired off to a robust begin, rankings and viewing figures plummeted in season two, prompting ABC to tug the plug.

ABC introduced it was axing Designated Survivor over the weekend, and Leisure One mentioned in a press release to the London Inventory Alternate on Monday that it’s in “lively discussions with different events for additional sequence of the present”.

The FTSE 250-listed group mentioned that whereas the cancellation could have no influence on its outcomes for the yr to 31 March, which shall be revealed later this month, “there could also be a modest influence on subsequent yr’s earnings, relying on the result of discussions with different events”.

Nevertheless, the Leisure One added: “The group stays on observe to ship towards its acknowledged strategic administration expectations for the longer term.”

Peppa Pig is the corporate’s flagship present, producing a big chunk of the group’s revenues, and has confirmed an enormous success in Asian markets.

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