Monday, February 23, 2009

CBC wants more; In hard economic times others cut, the public broadcaster begs

Greg Weston writes:

While most Canadian media outlets are slashing jobs and other costs to stay afloat in a sea of bad economic news for the industry, the CBC is once again rattling its tin cup for more handouts from taxpayers.

The public broadcaster already covers its costs in large part by siphoning just over $1 billion a year from the public purse.

But apparently that won't be nearly enough to pay the bills in the coming year.

Even before the economic crash last fall, government figures show the CBC had already rung up another $59 million in red ink for the year ending Aug. 31, 2008 -- on top of its usual handout that was 8% higher last year than 2007.

Now the CBC is suffering a precipitous drop in ad revenues as traditional advertisers are themselves slammed by the widening economic crisis.

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