Spanish church buys into 13TV

Iñaki Ferreras | 18-03-2011

Spain's catholic Conferencia Episcopal, the Spanish Catholic association, has bought 51% of the shares of religious private channel 13TV.

The operation amounts to an investment of €4 million and places the church on the same level as the country's biggest communication groups.

13TV replaces former Catholic regional television network Popular TV but with quite similar content. 13TV defines itself as a catholic television addressed to the whole family.The company has had to fire a group of workers in order to reduce costs and as a result it has come back to getting benefits in its latest results.