F1: Mateschitz in TV station closure u-turn
Red Bull founder and Formula 1 team owner Dietrich Mateschitz has performed a complete u-turn and decided to not shut down his private television channel ServusTV.
Mateschitz had earlier announced the closure of the station from the end of June, citing "unbearable" running costs, amounting to more than 100 million euros [$115m] per annum since the channel was launched in 2009. The 71-year-old had also discovered an email from outside the company to all employees calling on them to vote internally on the formation of a representation of employees supported by unions.
On Wednesday, however, Mateschitz met with representatives of the Austrian General Union [Gewerkschaftsbund] for talks. It is understood Mateschitz has been assured there will be no union interference into future ServusTV affairs.
The Gerwerkschaftsbund has also been assuaged by promises made to Mateschitz by the 264 employees they were happy not to seek union representation within the management.
ServusTV is to continue with its programming as planned, which includes the continuation of the screening of live MotoGP events after signing a three-year deal with promoter Dorna in February.
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