Spain: Right-wing 7NN shuts
March 29, 2023
From David Del Valle in Madrid
Spanish DTT channel 7NN will cease broadcasting this week following its owner Producciones Audiovisuales Hispania revealing the business is “financially unviable”.
Two weeks ago, the channel had decided to pull out of the nationwide DTT market to focus solely on Madrid and made a 50 per cent cut in staff, in an attempt to “reverse the situation”. But, “the changes in the management made over the last months have not reversed the economic deterioration”, according to a company’s statement, resulting in an “orderly closure” of the channel.
Launched in October 2021, 7NN has incurred €5.5 million in losses “with no guarantee of future revenues”, leading the company to a dead end. “The initial management team was more focused on developing a good TV product than building a sustainable business”, the statement adding: “This made monthly expenditure skyrocket with no proportion with revenues.”
7NN has been airing 24/7 news for a year and a half claiming to be an alternative to existing TV channels. The channel was supported by a group of Spanish right-leaning businessmen and TV professionals.
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