With decreasing revenues and increased competition from digital terrestrial channels, Spanish's TV station La Sexta is looking to collaborate with other Spanish TV broadcasters, said CEO Jose Miguel Contreras, Dow Jones reported Thursday.

The overall TV advertising market in Spain had decreased 25 percent in the first quarter of 2008 compared to a year ago, Contreras said.

Consolidation in Spain has also been encouraged by recent government legislation that has eliminated the 5 percent limit on cross shareholding for television broadcasters. Contreras predicts that Spain could end up with three major TV stations, Dow Jones reported in an article posted by the Wall Street Journal.