SPAIN BROADCASTERSTATE broadcaster RTVE is ‘out of money’ and ‘out of ideas’, according to a new report.

SEPI, the state body run by the Economy Ministry that controls 95% of the broadcaster, says it has failed to adapt to the changing habits of viewers or the demands of the digital age.

Its financial results speak volumes, as rivals Mediaset and Atresmedia reported profits of €166 million and €99 million respectively last year, RTVE lost €37 million.

The report says it is in urgent need of a strategic plan for the future if it is to meet the internal and external challenges it faces.

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