SIC's Rangel exits with $1 mil bye-bye

World Brief

By VARIETY STAFF

After 10 years as topper of private broadcaster SIC, Emidio Rangel has left the company with a severance payment estimated to be around $1 million.

Relations between the director general and the board of directors have been tense since the start of the year, as SIC lost its No. 1 rating to rival TVI, which has huge hit "Big Brother" plus sudsers.

Sliding audiences and lower advertising revenues have led to a $10 million loss for SIC this year. SIC prexy Francisco Balsemao will take control of the channel. Many believe that Rangel will be invited to head pubcaster RTP, although he has opposition within RTP and the ruling Socialist government.