Euronews revenues fell 40% on back of coronavirus: Sawiris

Egyptian billionaire Naguib Sawiris announced that the revenues of the Euronews network slumped by around 30-40 percent after ads stopped due to the novel coronavirus (COVID-19).

In 2015, Sawiris has officially acquired 53 percent of multilingual news channel Euronews for €35 million (~ $40 million), through his Cairo-based company Orascom Telecom Media and Technology (OTMT), rising his stakes to 60 percent in .

Sawiris added during his interview with Sky News, that this matter is currently being remedied and these are discussions with Euronews employees to deal with these losses.

He added that fears of employees returning to workplace can be overcome by sterilizing places and commitment to social distancing as well as a continuous medical examination for coronavirus.