Spain's LaSexta, a major content provider and broadcaster, and backed by Mediapro, had debts for €2.54bn at the end of last year corresponding to the costs of its sporting audiovisual rights extending until the 2014-2015 season.

This means its exposure has grown11.1% over the same position a year ago. In May 2007 the production company acquired the Formula 1 world rights for a period of five years running from 2009 until 2013 inclusive. The broadcaster also has the TV rights for several soccer championships and other sports rights.
The assorted debts for these rights exceeds a massive 60.3 times the company's own funds, and some 258 times its net profits of €9.85 million. Last year the broadcaster's net profit was just €9.85 million, a fall of 14.8% on the previous year.
As for the group's net incomes these were up to 80% until reaching €352.4 million of which 98.8% were generated in Spain. But the company's debt also rose by 56.1% in that period reaching €260.94 million. Expenses went up 167.1% in the year to €13.8m.

Source: RapidTV News 2008

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