The Spanish regulatory body CNMC has hit Telefónica’s Movistar Plus with a €661,796 fine for failing to comply with the obligation by law to finance European TV movies and series in 2014.

In addition, the watchdog has requested DTS, owned by Movistar Plus, to invest €7.4 million (of which €1.3 million will be destined to the production of films) through to the end of 2019 in the production of European TV content.

The Spanish TV law states that TV operators and telco companies with a pay-TV service must invest 5 per cent of their revenues in the production of European TV content –TV, films, series, documentaries and animation.

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By Expat