From David Del Valle in Madrid

The Spanish telco company is launching Terra TV, a free-of-charge VoD service through the Internet, financed by ad revenues, that will allow users to watch TV programmes, specific Internet-adapted content (similar to MySpace TV’s minisodes) and share content with others.

Running at 1Mbps speed, the service is aimed at complementing Telefónica's IPTV service Imagenio, with around 500,000 subscribers, becoming a new window for TV content with a potential reach today of 9 million users.

Separately, Telefónica has named its head of planning, Julio Linares, to become chief executive officer. The move is intended to allow Chairman Cesar Alierta to delegate day-to-day operating responsibilities to Linares so that he can focus on strategy.

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