Public Broadcasting Services are expected to post a profit of Lm200,000 at the end of the financial year ending September 2007, Investments Minister Austin Gatt said yesterday.
Dr Gatt said the state broadcaster had gone from making a annual loss of Lm2.4 million a year to being a profit-making company. PBS made a profit for the first time in many years - Lm60,000 - in the financial year which ended last September.
PBS chairman Joe Fenech Conti said the PBS editorial board was trying to bring quality to the station while improving its financial results.
More airtime was being sold at PBS and this resulted in more talent being represented on the station as well as increased efficiency, he said.
There were now 15 hours of children's programmes during the week, instead of seven, and prime time public service obligation programmes now covered 40 hours instead of 33.5 hours.
Not only had the government subsidy to PBS been reduced, but the wage bill too was down by 50 per cent to Lm750,000.
There were improvements across the board, new products were being created and revenue increased, most of it from advertising.
Expenses had been slashed by 40 per cent and the surplus funds generated by PBS were to be reinvested in the station.
There will also be more investment in period drama and drama based on popular Maltese novels, sports and in a new radio station concept.
A lot had already been invested in the news department through the purchase of new cameras and equipment, the drawing up of a study by a former BBC consultant and through the investment of additional resources for current affairs programmes.
There were also plans for an archiving system, a digital gateway for transmissions and a digital transmitter.
The minister said he would like the issue on transmission rights with the Malta Football Association to be resolved.
Mr Fenech Conti said meetings were being held between PBS, Net TV and Super 1 with the MFA under the direction of the Broadcasting Authority and it seemed that a solution would be reached soon.