Telemadrid budgets €94 million for 2013

Iñaki Ferreras | 23-11-2012

In an attempt to save regional public television Telemadrid from bankruptcy, the company is to receive €94 million over the next year, 75% of which will come from the regional government itself.

The regional government is controlled by the conservative party PP. The socialist deputy, Miguel Aguado, commented that if the company wanted to reduce staff costs, it should start with the "managers". However, the popular deputy Abrines Pedro Munoz, replied that if Aguado believes management costs are too much, "a million euros in labour cost can also be excessive".

Aguado, who stressed that he is not in favour of the new model said he considered dialogue with unions as being very important and wants to see a "joint solution through dialogue". "Let intelligence and imagination make this adaptation, but also evolution," Aguado said.

Telemadrid has €93.9 million in revenues, of which €15 million comes from business income, €71 million from public contributions of the Community of Madrid and €7.9 million from increased long-term debt to pay interest expenses, according to Telecinco.es.

The company's CEO recently explained that the 55.1% of its budget covers staff costs, so it only has the remaining budget to produce television programmes, and he said he aims to "eliminate virtually all of the cost of broadcast rights." This, explained a company source to Europa Press, would result in the disappearance of content such as soccer or bull fighting.


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