Italian media group RCS has said it is likely to move its digital terrestrial sports television channel Gazzetta TV to an online-only model.
The development comes after it was reported earlier this month that the service could close down having accumulated costs of €10m ($10.8m) in its first year.
The future of Gazzetta TV was on the agenda as RCS MediaGroup yesterday (Monday) unveiled its business plan for the period spanning 2016 to 2018.
“We're doing our assessments,” RCS chief executive Laura Cioli said. “I don’t honestly see a sustainable future with this model. We are moving towards an exit strategy. Transferring this platform onto the web and mobile devices will be the best that we can do to keep the value of the experience.”
RCS is seeking to reduce its debt of €483m. In the plan presented yesterday, chief financial officer Riccardo Taranto said that he wants to reduce it to €290m by the end of 2018.
Gazzetta TV’s rights portfolio includes the English Championship and League Cup club football competitions. The second tier of English football has this season returned to Italian television for the first time in four years, with Gazzetta TV acquiring rights to the 2015-16 Championship and League Cup.