Spanish broadcaster La Sexta has pulled the pin on televising F1 in 2012

In yet another indication that Spain’s economy is continuing to collapse under the pressures of the latest European financial crisis, its local Formula 1 broadcaster, La Sexta has terminated the rights to televise the sport in 2012.

Its announcement comes with two years left to run on its current five-year deal, with the broadcaster confirming that it can no longer afford to keep the show going due to a loss of advertising revenue.

Under La Sexta’s watch, its broadcasts attracted over three million TV viewers per race.

La Sexta’s parent company, MediaPro, pays some $50 million a year for exclusive broadcasting rights in Spain, but it’s going to have a hard time finding a replacement TV station, with the majority across the country having to tighten their belts in the wake of the current Eurozone financial woes.

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Richard Bailey

Founder & Chief Editor at MotorsportM8
Hasn't missed a Grand Prix since 1989. Has a soft spot for Minardi. Tattooed with 35+ Grand Prix circuits.