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    Catalan Autonomous Government authorizes Sport payment 12 million losses Audio-visual

    The Catalan Autonomous Government decides to concur in an operation of increase and reduction of capital in the Sport Audio-visual company, which supposes the liquidation of the debt of Television of Catalonia in this company

    In this way, the Catalan Autonomous Government authorizes to TVC Multimedia SL to completely subscribe and to disburse a total amount of 11.960.140, 88 Euros and, at the same time, within the company, to reduce the share capital of the society in 59.800.704, 38, in order to “to restore the balance between the share capital and the patrimony as a result of losses and of proportional form to the participation of the partners”.

    With this operation, liquid TVC the debt that showed against Audio-visual Sport, in agreement with their participation, and is compensated the existing credits between the partners. This operation will allow that Audio-visual Short recovers of the accumulated losses from 1997.

    A month ago, the CCRTV and Sogecable reached an agreement on the future from Audio-visual Short by which the Catalan corporation maintains its participation of 20% in the shareholders and “it limited his effort” in the next exercises.

    After weeks of negotiations, CCRTV and Sogecable agreed “ceiling” that limited two years the effort of the corporation, that in case the losses extended the corporation it would not have to face up, and anticipates the possibility “of leaving with dignity” if there is no budgetary balance, according to remembered “to conseller in CAP” of the Catalan Autonomous Government, Josep Bargalló.

    As of season 2006-2007, the Sport Audio-visual society anticipates positive results that will allow the CCRTV to be recovering the “important accumulated losses” from 1997 because of their participation.

    Soccer in TV3 happens what happens

    The agreement recognizes the Catalan corporation the right to relay in deferred all the parties of the FC Barcelona and the RCD Espanyol, as much of League as of Glass, from season 2003-2004 to la2007-2008.

    Also it recognizes the right to transmit in direct the parties of first stage of glass of FC Barcelona and RCD Espanyol of seasons 2005-2006 to 2007-2008.

    In addition, in case the contract with the FORTA stopped being effective, the right is guaranteed to relay in direct a minimum of 10 parties of the FC Barcelona and other ten of the RCD Espanyol of the competitions of League and Glass during seasons 2006-2007 and 2007-2008, “happen what happens with the rights of emission of soccer”, pointed Bargalló.

    For Bargalló, the today agreement supposes the culmination of a “good negotiation for a business that was a failure” and that puts date of lapsing to the “drain of the assumption of the Audio-visual deficit” of Sport on the part of the CCRTV.

    (EP, 16-03-05)

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