Commercial operators to finance RTVE

The Spanish Cabinet have approved a law, which will oblige Pay-TV, commercial TV operators and telecom operators to provide funding to finance the state-owned group RTVE, reports Operators will have to dedicate 1.5 per cent, 3 per cent and 0.9 per cent of their annual revenues respectively, to support RTVE, in compensation for the termination of its previous right to advertise, estimated as a loss of E478 million for the group.
In addition RTVE is expected to receive an annual state subsidy of €555 million as well as 80% of the tax operators pay for the use of their spectrum, around €250 million.
Item added: 8th June 2009