broadcaster shuts as spain local tv boom faces bust
Last Updated : GMT 00:49:26
Arab Today, arab today
Arab Today, arab today

Herald the bursting of another bubble

Broadcaster shuts as Spain local TV boom faces bust

Arab Today, arab today

Arab Today, arab today Broadcaster shuts as Spain local TV boom faces bust

Video camera's screen as journalists gather in Palencia
Madrid - Arab Today

Video camera's screen as journalists gather in Palencia Workers at a Spanish television channel fought against its closure Wednesday after authorities said it was financially doomed, the latest casualty of Spain's regional cash crisis. Five years after the busting of the real estate boom that hurled Spain into recession, analysts say the closure of Valencia broadcaster RTVV could herald the bursting of another bubble: Spain's 17 regional television stations.
Leaders of the eastern region defended their decision to shut down the public television and radio service RTVV, saying they were forced to do so when a court ruled the company could not fire 1,000 workers to try and stay afloat.
Regional President Alberto Fabra, of Spain's governing conservative Popular Party, said the shutdown was "non-negotiable".
"The court ruling leaves us no other option but to close down the station because we cannot bear the cost," Fabra told reporters on Wednesday.
"We do not have the 40 million euros required to take back those 1,000 workers, because we need that money to maintain education, health and social services," he added.
Unions and political opponents scorned the government's explanation.
"Playing off public television against essential services is shameful," said the regional leader of the opposition Socialist Party, Ximo Puig, in a statement, alleging the closure was politically motivated.
The secretary of the works council representing RTVV workers, Jose Alcaniz, told AFP: "The ruling demands the reinstatement of the workers and we are going to use all political and judicial means to achieve that."
Tuesday's announcement to shut the channel primarily affected the broadcaster's total 1,700 staff and audiences in a region of five million people, but it echoed the impact of spending cuts in Spain's public services overall.
Fighting to stabilise the public finances, Spain's central government has imposed tough budget targets on the 17 regional authorities. Under the latest central government targets, they must make eight billion euros in savings in 2014 and 2015.
Valencia is the most heavily indebted of the regions, having spent big during a decade-long building bubble and struggled after the boom went bust in 2008.
Its debts in late June equalled nearly 30 percent of its gross domestic product at 29 billion euros.
Analysts warned that other regional broadcasters could go the same way as RTVV.
Its closure sets "a serious precedent which puts at risk the existence of regional television stations in Spain," warned Manuel Campo Vidal, president of the non-profit Academy of Television Arts and Sciences.
Fernando Cano, editor of media news site prnoticias.com, warned that "exactly the same thing could happen in Madrid," with the regional channel Telemadrid. It faces a similar crisis and is seeking to lay off 861 of its 1,170 staff.
Alcaniz said he expected the legal proceedings needed to shut down RTVV to take at least two months, "and in that time we will certainly stop it", with the channel expected to function normally in the meantime.
He echoed the allegations of political motives behind the closure.
Cano said that the reliance on public funds of the regional channels, which flourished in the decade-long boom from the late 1990s, undermines their impartiality.
"They have only survived because of public subsidies and they have grown thanks to them and to regional governments that have tried to use them as a political tool," said Cano.
"This situation was predictable because the television stations are deep in debt," Cano said, adding that advertising revenues have fallen 60 percent since 2007.
"Ninety percent of the budget of these television stations came from the region, which is ultimately state money, so this model is unsustainable."
Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

broadcaster shuts as spain local tv boom faces bust broadcaster shuts as spain local tv boom faces bust

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

broadcaster shuts as spain local tv boom faces bust broadcaster shuts as spain local tv boom faces bust

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Air China suspends flights to North Korea

GMT 10:39 2017 Thursday ,23 November

Air China suspends flights to North Korea
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria opposition meets in Riyadh

GMT 06:23 2017 Thursday ,23 November

Syria opposition meets in Riyadh
Arab Today, arab today Jordanian journalist happy of her career

GMT 17:37 2017 Thursday ,23 November

Jordanian journalist happy of her career
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today Srebrenica women cry tears of joy

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday