TORONTO – The CBC is slashing 657 positions over two years to cope with a massive budget shortfall.
CBC News says cuts to its budget amount to $130 million.
CBC president Hubert Lacroix is outlining details for staff at a town hall meeting today.
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The belt-tightening includes less sports coverage – the network says 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.
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The CBC recently lost the rights to broadcast “Hockey Night in Canada” to Rogers Media.
The broadcaster is also grappling with a softened ad market and a loss of $115 million in federal government funding that was announced in the 2012 federal budget.
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