Cash Crunch at the CBC May Affect “jobs, services and programs”
CBC’s senior management team is holding a third-quarter update on the state of CBC finances tomorrow. The update is expected to address how the CBC plans to deal with a large drop in revenue.
According to an email from CBC President Hubert Lacroix, ad revenues were 17 per cent lower than forecast for fiscal 2008. The note says: “we are now projecting a shortfall in advertising revenue that will be in the $55-$65 million dollar range.”
And it gets worse.
Lacroix added “The more pressing issue is our budget for 2009-2010. The combination of a severe slump in our commercial revenues, coupled with rising costs of production, is a menacing test that will demand some tough choices on our part.”
According to the note some of the choices may affect jobs, services and programs but “Nothing has yet been determined,” Lacroix wrote.
The update will be held in the Glenn Gould Studio, in Toronto, Tuesday, Feb. 24, from 10 to 11:30 a.m. ET. Employees that can’t make it in person can tune in on the in-house channel or dial in. For more information on that click here.
Lacroix ended the note by addressing Greg Weston’s story in The Sun from yesterday.
Lacroix said Weston “horrendously distorted the facts and suggested we’ve been looking to Government for “hand-outs,” which is precisely what we HAVE NOT been asking for.”
A CBC press release added Weston did not check any of his facts with the CBC before publishing the article. Having read the article this morning I was surprised that it made it past the editing desk, giving the single source and inaccuracies.
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This should come as surprise to no one. The Conservatives are going to enjoy reducing the funding to the CBC.
Look for the regions to take the hit again and the sacred network cows dodge the sacrifice once again. Let the office renovations begin.
Another “unbiased” comment on the CBC finical situation here.
http://www.stephentaylor.ca/
I don’t know what to say here that I haven’t said here:
http://www.publicbroadcasting.ca/2009/02/cbcs-funding-must-be-increased.html
Dear Pumpkins,
A shortfall in funds at the CBC due to a decline in Ad Revenue — this is a surprise?
Newspaper and Magazine circulation collapsing, Canwest on tittering of the edge of a cliff, CTV tossing staff like they were jars of tainted peanut butter and this was a surprise?
Lots talented people looking for the nearest windows in crash of 2009.
And I noticed a certain Western Anchorman was away the day Obama was in Canada. Must be looking for work somewhere — CTV? CBC? NO, CNN I thought — the coutry was so gaga there must have been a very good reason to not be in Ottawa that day. Maybe he was having a root canal before the benefits run out.
Look for colleagues to miss more work going to the dentist these days. Call the fear barometer.
B
Thanks so much for a much needed belly laugh. The (unintended?) picture of the Aspers giggling while piling off a cliff…..priceless.
It’s good to hear that Lacroix and the CBC has not looked to the taxpayer for more hand outs. Let’s hope he and the CBC stick to their guns!
layoffs , packages , where do i sign up, cannot leave fast enough