The Communist Party of Greece (KKE) announced on Monday that it sold its privately owned 902 broadcaster, which employees 48 people.

In a statement, the party said that it was left with no option than to sell the 20-year-old station, which operates a national TV and radio channel, in order to pay off the company’s debts. KKE claimed that the sale will enable 902 to pay money owed to employees and to social security funds.

The party did not reveal the identity of the new owner, who, according to reports, will not be taking on any of the 48 staff at the station. It is understood that only four of the 48 staff will be kept on in order to keep the 902.gr website, which the KKE uses as a news portal. The remainder will be transferred to other party companies, on new contracts and reduced wages, before being laid off.

Source: EnetEnglish, ANA-MPA