From Branislav Pekic in Rome

News Corporation Europe has decided to quit the project for the launch of Fox TV Montenegro and return the broadcasting licence to the country's Broadcasting Agency (ARD).

According to the Chief operating officer of News Corp Stations Europe, Gary Davey, the corporation believes the project would not be viable, taking into account the economy and the nature of the media market in Montenegro. He added that the decision is exclusively based on the evaluation of the economic viability of the project.

The Fox Montenegro TV channel received a licence last September and had already started set up a TV studio and acquired all the necessary broadcasting equipment

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