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Sport TV repays €33.3m to Zon

Portuguese pay-TV broadcaster Sport TV has repaid €33.3m in debt to its parent company Zon Multimédia.

The channel, which is jointly owned by Zon and Portuguese media entrepreneur Joaquim Oliveira, was able to pay the debt after it tripled its net profit in its latest financial results to €20.3m. The broadcaster currently has around 600,000 subscribers.