CNN+ EXPECTS TO RETURN A PROFIT IN SPAIN WITHIN FIVE YEARS.

The rolling news channel CNN+, which is to begin broadcasting in Spain on January 27, expects to return a profit within five years. Addressing a press conference on December 11, CNN+ Director Francisco Basterra, indicated that the company, a 50/50 subsidiary of the American broadcaster CNN and the Spanish Sogecable group, will make an initial investment of 400 million Pesetas (USD2.8 million) and has a budget of Pta2 billion (USD14 million) for 1999. Mr Basterra emphasised that the...