Hellenic Federation of Enterprises: Closing of TV Stations Will Cost €1.7 Bln



324123The Greek state will lose 1.7 billion euros in revenues in a 10-year period from the closure of television stations, says the weekly newsletter of the Hellenic Federation of Enterprises (SEV).

The newsletter notes that “there is no example of another prosperous country where access to the licensed television spectrum depends on the assessment of the state based on the size of the advertising market, and stresses that in the government plan there is no reference to a OECD study regarding licenses and the use of the digital spectrum.”

The newsletter says that SEV will be closely monitoring the consequences of government policies on the access to the digital spectrum and the issues of freedom of information, employment and public finances.

The newsletter includes a list of revenues that would be lost.

  • Net losses over the next 10 years, after all personnel of the closing stations are absorbed by the new stations following the closure of us STAR, ALPHA, MEGA, MAC TV, ART, EPSILON (Association of Private National Broadcasting Television Stations National Range, EITISEE)
  • Direct and indirect job losses: 1,657
  • Estimated losses from closing stations that did not receive a permit in a 10-year-period.
  • Income of employees laid off: 692 million euros
  • Proliferative indirect loss of income 415.2 million euros
  • Direct taxes, levies, direct loss of 276.8 million euros
  • Direct taxes, levies, indirect loss of 166.1 million euros
  • VAT, direct loss of 99.6 million euros
  • VAT, indirect loss of 39.9 million euros
  • Unemployment benefits to laid off employees 15 million euros