Financial problems have come to light at Unidad Editorial's Spanish sporting channel Marca TV which may be forced to lose nearly 40 workers to avoid closing down.
The current advertising crisis in Spanish media is being attributed for the troubles which are also shared at the group’ sister channel Veo7 which also has problems with its self production programmes and, as 'Rapid TV News' advanced some weeks ago, will close down with the loss of some 60 jobs.
The broadcaster has losses of €9 million but to be able to exist these losses must come down to €6 million. Yet the cost cutting strategy of its owners will also mean reduced expenditure on the broadcasting rights for some of its strategic content and mean that could turn other important rights down. Marca TV will likely become a second class sporting channel when now it is a first class one.
Marca TV was formed from the Unidad Editorial sporting newspaper 'Marca' the most read sporting journal in Spain.
Iñaki Ferreras | 29-06-2011