Gov't calls on TV channels to cough up 40 million euros for frequencies

The government told nationwide private and pay TV channels on Thursday to pay a total of 40 million euros which are owed to the State since 2011 for the use of radiofrequencies. The debt concerns an annual two percent fee which TV channels are required to pay based on their revenues.

Based on the document issued by the government, private TV channels will now have to pay 24.15 million euros for the years 2011-2014 and pay TV channels OTE and Multichoice Hellas are asked to fork out 16.32 million euros for the years 2012, 2013, 2014.

The government said the operating license for television channels is granted on condition that the company pays the State a minimum annual fee for the use of some radiofrequencies. The fee has been set to a two percent of the channel's gross revenues, though the percentage can be amended with a joint decision of the finance and press ministries.

The document also says the same law can be applied to radio stations.

Earlier this week, and according to a document that was signed by Finance Minister Yanis Varoufakis and submitted to Parliament, the government also said that it is planning to examine all loan agreements granted to highly indebted media companies.

The Bank of Greece, however, refuses to forward to parliament any substantial information regarding the subject, citing professional confidentiality. (No surprises here seeing that Simitis' man is holding the reigns.)

     "The government is determined to fight corruption and vested interests and end the preferential treatment - on behalf of the banks - of media companies," Varoufakis' document said, adding that all cases will come to light, including loans of highly indebted companies in other sectors, besides media.
     "The reason is that it is a completely unacceptable phenomenon to have media companies lavishly funded with state money - which has been given to banks through their recapitalization plans - at a time when hundreds of small and medium-sized businesses are excluded from liquidity," the minister added.

He also said the government has told banks not to give loans to media companies which don't meet conditions and don't provide collateral. He noted the aim is to examine thoroughly all loan agreement granted to indebted businesses in various economic sectors and bring everything to light.

The aforementioned document was submitted to parliament following a question by Independent Greeks MP Nikos Nikolopoulos who wanted to be informed about loans given to media companies in the past five years and which are considered "bad loans" by common bank financing criteria.

In his answer, Varoufakis said Nikolopoulos' question was also sent to the Bank of Greece which refused to provide any information.

ANA - MPA  and other Combined Reports