CBC to Make Hard Decisions

It has been mostly banks and automakers in the news lately and their hardships in the current economic storm, but now CBC, the heart of Canadian media, has been beaten down by the recession.

CBC has projected that it will be $171 million short for the 2009-2010 year.  CEO and President of CBC, Hubert Lacroix, announced that there would be 800 job cuts to help wheather the storm as well as a need to sell off $125 million of assets.  CBC will also be cutting back programming by $80 million - $14.4 million from radio and $70.3 million from T.V.  This means expect much more repeat programming on CBC.

The following areas at CBC will not be changed:

• Radio One and Radio 2 will remain free of ads.
• CBC TV will maintain its commitment to 80 per cent Canadian content in primetime.
• CBC will continue to invest in new media platforms.
• Regional stations will not be closed.

The loss of $171 million spawns from the lack of advertising revenues coming in due to many companies drastically cutting back their marketing budgets.  CBC required bridge financing from the Canadian government, but the request was turned down.  The Conservative government is known to be less committed to media and arts in Canada and this is proof.  Unfortunately, the Conservatives do not see CBC as being a hugely important Canadian icon like many Canadians do.

In tough economic times money must be put where it will do the most good.  Apparently, the Conservatives do not think giving it to CBC will do the most good.  Hopefully, CBC will be around when the Canadian economy rebounds.  CBC has always been committed to Canadian content and its loss would be devastating to Canada.