Slovenian public broadcaster in financial difficulties
November 27, 2023
From Branislav Pekic in Rome
Slovenian public broadcaster, Radiotelevizija Slovenija (RTV SLO), is facing a challenging financial situation and is projected to incur a loss of €10.5 million by the end of the year.
The Board of Directors has instructed the administration to estimate the financial and personnel implications of potential measures, including the cancellation of various TV programmes, radio stations and publishing activities, as well as wage reductions.
The Board has also requested the submission of a list of all RTV SLO-owned properties that are not essential for carrying out its activities, along with an estimate of their market value.
According to CFO Saša Umek Knez, revenues for the first nine months of the year exceeded those anticipated by almost €1.5 million, primarily due to the sale of 617,000 shares in satellite operator Eutelsat. However, expenses increased by €4.8 million.
Losses by the end of September amounted to €7.2 million, €3.3 million more than planned.
Revenue projections for the full fiscal year are €5.5 million below those planned, primarily due to the lower price obtained in the sale of Eutelsat shares and the failure to sell planned real estate. By the end of the year, expenses are expected to exceed the plan by €5.1 million.
Despite securing the TV rights to the European football championship and the Olympic Games, RTV SLO does not yet have the necessary funds to cover the costs of broadcasting these events, according to the president of the Board, Zvezdan Martić.
Separately, RTV SLO has announced the termination of operations of MUX C, effective from February 1st 2024.
This decision leaves MUX A as the sole DTT network covering the entirety of Slovenia. MUX A was allocated to RTV SLO without a tender to meet the needs of the public broadcasting service.