Max Conze has stepped down as CEO of ProSiebenSat.1 Media, effective immediately, as the European media group refocuses its business on its entertainment segment.

ITV is cutting £100 million ($116 million) from its programming budget and suspending the production of Coronation Street and Emmerdale due to the COVID-19 crisis.

NENT Group is implementing measures to cut costs by approximately SEK 700 million ($68 million) due to the impact of COVID-19 on its 2020 financials.

RTL Group revenues for 2019 rose to €6.7 billion ($7.4 billion), delivering a profit for the year that was up by 10.1 percent to €864 million ($960 million).

ProSiebenSat.1 Media posted 2019 revenues of €4.1 billion ($4.6 billion), a 3 percent gain, boosted in part by digital advertising and gains at Red Arrow Studios.

Full-year revenues at ITV plc were up 3 percent to £3.3 billion ($4.3 billion), led by its production and distribution division as ad revenues slipped by 1.5 percent.

The Belgian media company DPG Media is aligning with Telenet to launch a new streaming service for the Flemish market this year.

Despite a soft economy, advertising expenditures across all media in the U.K. will be up by between 4 percent and 5 percent this year, according to Enders Analysis.

Inward investment spend from high-end TV in the U.K. reached a record £1.3 billion ($1.7 billion) in 2019, according to BFI.

NENT Studios is offloading its non-scripted production, branded entertainment and events businesses so that it can focus on scripted production and distribution.