Shares in media presentation services company Avesco, a stakeholder in the hit TV show Who Wants To Be A Millionaire?, have fallen sharply.
The fall came after the company said the
Millionaire
brand was losing lustre in the United States.
"The current signs are that the combination of the aftermath of September 11th and of the economic difficulties in the United States and Europe may have an effect on revenue streams for Millionaire," Avesco said in a statement.
Its shares tumbled 29 per cent in London this morning.
Millionaireis being aired twice per week in the US autumn schedule, down from four times weekly last year. Avesco also said there were signs that sales of Millionairemerchandising over the key Christmas period "may be lower than anticipated".
"As a result, although Millionairecontinues to enjoy great success, full year profits from Complete may not be as high as our previous expectations," Avesco said.
Avesco has a 49 per cent stake in Complete Communications, which owns worldwide television, merchandising and new media rights to Who Wants To Be A Millionaire?.
Avesco, which issued a profits warning on September 18th, posted results for the six months to end-September showing a 56 per cent fall to £2.5 million sterling in pre-tax profit on turnover down 3 per cent to £32.6 million.
The interim dividend was left unchanged at five pence.