PN facing off debt with radical downsizing

The Nationalist Party is expected to reduce its workforce by half and close down its printing press, employees were told in a recent meeting between the party's management and union leaders.

Unofficial reports place the Nationalist Party's debt at a minimum of €8 million. The party's media arm Media.Link has an authorised share capital of €11 million.

Now pursuing radical cost-cutting and a major downsizing of the operation - which includes a radio station, a daily newspaper and Sunday weekly, a printing press, a TV station, and an internet news service - the PN will be closing several of these operations.

One party source says the printing press is to be sold, while the internet organ maltarightnow.com will be outsourced.

Part-timers will be reduced, although the newsroom's full-time staff will be retained. The PN's newspaper library information arm, Informa, will also see workforce reduced.

Another source claims Net TV's broadcasting licence could easily be a much-needed source of emergency revenue, with private television studios lining up to buy the channel.