The Canadian Broadcasting Corporation is eliminating 145 jobs, and warns of more cuts and restructuring to come, as well as lower spending on both in-house and indie English TV production for the next fiscal year. The cuts will take effect June 30.
CBC VP Harold Redekopp, predicts a CDN$23 million loss (US$15 million) next year, and said English TV faces ‘real financial problems.’ To close the gap, CBC will cut spending by $14 million (US$10 million) and make up the balance of $9 million (US$6 million) by cutting its work force.
Redekopp maintains cost-cutting is only part of the restructuring picture. He wants to turn the CBC into a ‘highly differentiated public television service.’ That may translate into less advertising – down from the 12 minutes of commercials and two minutes of promos running each hour.
Redekopp also says the CBC is looking at new revenue sources, including the lease or sale of its buildings, equipment, trucks or other assets from its facilities.