Romania: state TV board fired over debts, poor ratings

Markets Associated Press

Romania's Parliament has dismissed the governing board of the state television company after it racked up debts of more than $160 million and registered poor ratings.

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Lawmakers voted 203-74 on Wednesday to reject the 2016 annual report and fire TVR Chief Executive Irina Radu and the board a week after the broadcaster submitted its annual report to parliament. Parliament later approved a new board.

Lawmaker Radu Preda said that 2016 had been the most onerous year in the broadcaster's history, first launched in 1956 and the nation's only broadcaster until communism ended.

At the end of last year, the five-channel broadcaster had debts of 654 million lei ($167.3 million) and investment in programs fell by 90 percent. Romania has a number of private broadcasters, which offer non-stop news and entertainment.