Nov 11, 2020 / 11:00PM GMT
Operator
Ladies and gentlemen, thank you for standing by, and welcome to the GTN 2020 Annual General Meeting conference call. (Operator Instructions) Please be advised that this conference is being recorded today.
I would now like to hand the conference over to your speaker today, Mr. Rob Loewenthal, the Chairman. Thank you. Please go ahead.
Robert Loewenthal - GTN Limited - Independent Non-Executive Chairman
Thank you. Good morning, ladies and gentlemen. I'm Rob Loewenthal, the Chairman of GTN. On behalf of GTN Board, I'd like to welcome you here to our Virtual 2020 Annual General Meeting. A quorum is present, and I declare the meeting open.
We are joined today by GTN's Board of Directors and senior executives, including the founder and CEO, Bill Yde.
The COVID-19 pandemic has had a significant negative impact on both the global broadcast media industry and our business. GTN advertising revenue declined by 13% in financial year '20. Given the company's high fixed cost business model, the decline in revenue caused a 62% decrease in adjusted
Gtn Ltd Annual Shareholders Meeting Transcript
Nov 12, 2020
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