The Romanian Tax Administration froze the accounts of state-owned television company TVR over a debt of some EUR 69 million, including penalties. The state-owned TVR ended 2011 with a loss of EUR 38 million, with revenues at EUR 137 million.

The current board says it took over the TVR with a loss of EUR 61 million in 2010, which has been accumulating since 2005.

TVR started in 1965 and now includes several TV stations financed from the country's budget, including through a specific television tax paid by all users.

editor@romania-insider.com