European Public Broadcasters’ Crisis: Spain’s RTVE Cuts Back on Hollywood

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Spain’s treasury minister Cristobal Montoro now admits that the move (by a previous government) was a mistake. Hes called on all parties to “find a viable financing” model and has promised to find an additional $37 million through new sponsorship deals and advertising to boost RTVEs budget. Unlike in Greece, where the government temporarily shut down its national public broadcaster to save money, there are no plans in Madrid to pull the plug on RTVE. “Spain is nothing like Greece. The government of that country did what it considered appropriate, but we consider RTVE a necessary and unquestionable public service,” said the spokesman for Spains ruling Popular Party who sits on the parliamentary commission that oversees the broadcaster. “RTVE is going to continue, and we are going to fight to do more with less so that RTVE can continue to be a quality, objective pubcaster, without even one layoff.” But RTVEs ills are many. A recent hike in Spain’s sales tax from 18 percent to 21 percent and a re-valuation of its real estate properties have added to its debt burden, forcing the broadcaster to take out a $90 million loan last year with Spanish banks Banco Santander and BBVA.
For the original version including any supplementary images or video, visit http://www.hollywoodreporter.com/news/european-public-broadcasters-crisis-spain-580528

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