CBC President Says Network May Sell Assets
February 26, 2009 at 5:04 PM (PT)
CANADIAN BROADCASTING CORPORATION President HUBERT LACROIX said THURSDAY that the public broadcasting company is considering selling off assets in response to budget difficulties.
LACROIX, speaking to the EMPIRE CLUB in TORONTO, denied that the company is begging the government for more money but said that the operation is expecting its ad revenue shortfall from TV sales to reach C$55-60 million by the end of the fiscal year ending MARCH 31 and that he has asked for a meeting with Prime Minister HARPER. Among the CBC's options is to ask for a line of credit from the government, add back American shows to the CBC's TV lineup (they were eliminated from CBC prime-time several years ago but fill the schedules of private rivals CTV, GLOBAL, and independent station groups A, CITY-TV, and E!), accepting a wider range of advertising, and/or closing or consolidating stations.
CTV GLOBEMEDIA announced WEDNESDAY that it is closing its A stations in WHEATLEY-WINDSOR, ON and WINGHAM, ON ad its CBC-affiliated CKX-TV/BRANDON, MB when their licenses expire later this year, and GLOBAL has suggested that it might close its E! independent stations in MONTREAL, HAMILTON, VICTORIA-VANCOUVER, KELOWNA, and RED DEER, AB if no buyers can be located.