Debt-ridden Valencia pulls plug on TV channel

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Debt-ridden Valencia pulls plug on TV channel

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Angry workers interrupted the midday news bulletin at Valencia’s regional TV channel on Monday as RTVV became yet another example of Spain’s debt crisis.

The regional government – run by Prime Minister Mariano Rajoy’s PP party – is almost bankrupt and the channel accounts for roughly one billion euros of its debt. Now it has announced plans to save 54 million euros by laying off three quarters of the channel’s workforce – almost 1,300 people.

One worker complained: “It’s not the workers who are guilty. Those responsible are the management that over recent years got the company into this terrible mess and social disgrace.”

Over the years the channel’s payroll has grown to 1,700, a huge figure in regional TV terms. It was seen by some analysts as being run primarily as a mouthpiece for local politicians.