CTV predicts $100M loss in television operations (CBC)

[DrewWilson]

CTV will be telling federal regulators that it expects to lose as much as $100 million on its over-the-air TV operations this year, according to documents the broadcaster released on Friday.

The forecast follows a loss of $13.3 million in 2008.

In a memo to employees, the company said its A-Channel television stations are in a "grave" financial situation because of lower advertising revenues and it will have to cut operating costs at the local networks in Ontario, B.C. and Nova Scotia.

A CTV representative wasn't immediately available to explain how the cost reductions could play out, but a document that parent company CTVglobemedia intends to file with the Canadian Radio-television and Telecommunications Commission next week said closing conventional television operations is an option.

More... (http://www.cbc.ca/arts/story/2009/02/28/ctv-losses.html)

Good riddance. I can't stand the fact that the company picks zoo stories ("a baby panda was born in a zoo today...") over important issues - not to mention the fact that the company sucks up to whoever is in the government.

[1cooldude]

so much for national networks. Never liked their reporting and quality of news. The only problem is that the small remote communities will be loosing o.t.a local tv-station which for some may mean loosing half the service. There is a satellite service but much costlier.

[mountain_rage]

so much for national networks. Never liked their reporting and quality of news. The only problem is that the small remote communities will be loosing o.t.a local tv-station which for some may mean loosing half the service. There is a satellite service but much costlier.

What news do you watch then, A - Channel, Global, CBC? The only other news I watch other than CTV would be CBC, A channel and Global have horrible reporting.

[1cooldude]

CBC would be my choice. I think their choice of additional stories and indepth reporting far surpasses anything that CTV or Global could ever produce. And, yes I am a supporter of public television both TVO and PBS.

[fleecy]

i prefer cbc as well, even though it was forced on me in the era of tfc. it at least tries to do a better job of combining regional and national issues.

[DrewWilson]

(Obviously) CBC fan here too. :)

CBC is one of the few mainstream sources for news I use.

[fleecy]

they were on shaky ground for a while too.... hope they soldier on.

[1cooldude]

and you can't beat Peter Mansbridge for his delivery. Love to watch One on One. :)

[cheapprick]

I think it's [CTV] important enough that the gov't should offer some level of non-repayable loan if needed to keep it afloat.

I don't want Canada to be the country that only has one viable national network if that one network is in turn owned by the state.

Global, for its part, is too staunchly conservative to be a national network in Canada.

[1cooldude]

I realize the post was about CTV but in the update to the current national networks, it seems that CBC will be laying off about 800 employees to navigate through $ 176 million budgetary deficit. The job cuts are evenly divided between the French and English side of programming.