CBC News president Hubert Lacroix said Thursday that the cuts to its budget amount to $119 million.
The belt-tightening includes less sports coverage. The network said it will no longer pursue the rights to broadcast professional sports, saying it cannot compete with private rivals that have specialty channels and multiple media platforms.
The CBC recently lost the rights to broadcast the National Hockey League’s live games to Rogers Media.
The broadcaster is also grappling with a softened ad market and a loss of $105 million in federal government funding that was announced in the 2012 federal budget.
MORE HBJ HEADLINES
Retailers are pushing sales earlier, and consumers are buying Black Friday begins to fizzle out States boost REI's Black Friday 'OptOutside' plan How Toyota uses NASCAR to sway loyal U.S. car buyers Muddled thought behind Common Core is its undoing Briefs: Monroe chiropractor honored by statewide association
Our new comment system is not supported in IE 7. Please upgrade your browser here.