"The current financial situation forces TVE to close one channel," explained Díez. "The content from Teledeporte can be aired on La 2, were it is a perfect fit, and so save money for the network."
Although it has been suggested many times, Díez said this is not the time to question the current system which doesn't allow private advertising. "It's time to guarantee good management; RTVE needs a stable budget from both the public and private sides."
Saving strategies have been applied to TVE in recent years, but its expenses are currently still higher than its income, which comes from the public budget and a tax on telcos. Compared to 2011, TVE managed to reduce expenses by €216 million by the end of 2013, but the income fell by more than €300 million.
A further fall in income is expected this year, making TVE's financial situation complicated, since the board of directors already admits to a debt of €718 million.
Source: http://www.rapidtvnews.com/2014082935081/tve-confirms-teledeporte-s-closure.html#axzz3BmCh2w6z