CRTC Denies Proposals To Change Talent Fund Contributions
May 14, 2007 at 5:45 AM (PT)
The CRTC has denied XM CANADA and SIRIUS CANADA's requests to amend their licenses to change the conditions under which the companies pay a percentage of gross revenues towards Canadian talent development.
The applications asked that the timing of the payments be changed from "during each broadcast year" to "by the end of each broadcast year," and that the payments be calculated as 5% of the cumulative gross revenues from broadcasting activities rather than on the gross revenues from the entire satellite radio operation. The companies wanted overpayments in any year to be credited to the overall obligations for the entire license term; the CRTC noted that the 5% figure is presently a minimum contribution and under the proposed changes would become a maximum contribution and also that changing the calculation to include only broadcasting-related revenues would reduce the money being dedicated to talent development.