Spanish regional public-service broadcaster Canal 9 decided to drop live coverage of Valencia’s Formula One motor-racing grand prix, according to news website El Economista.
Canal 9, which is based in the Valencian Community, the region which hosts the grand prix, reportedly announced it would not carry the annual race for the final two years of its four-year contract, which runs from 2010 to 2013, with the Mediapro agency. Mediapro has not yet confirmed that the contract has been terminated.
Canal 9 believes the move will save it more than €10 million ($13.1 million) in rights fee payments over the next two years. According to the report, Canal 9 will not be liable to pay an early termination fee.
José Ciscar, the vice-president of the Generalitat de Valencia, the regional authority which owns Canal 9, said last month that the broadcaster would drop its coverage if Antena 3 acquired Formula One rights following Mediapro’s decision to cancel rival commercial broadcaster La Sexta’s rights deal. La Sexta was unable to pay its rights fee instalment for the 2012 season.
Ciscar said that, due to Antena 3 attracting a “much greater audience” than La Sexta, Canal 9’s viewing figures would be harmed. Earlier this month, Mediapro sold Spanish rights for the 2012 and 2013 Formula One seasons to Antena 3.