Tuesday, June 30, 2009

CBC eyes real estate selloff to raise cash


The CBC says it would consider selling buildings that house its radio and TV stations in a bid to wrangle control over its cash-strapped budget. Hubert Lacroix, president of CBC/Radio-Canada, says anything could be up for sale if efforts to generate funds elsewhere fail.

The past months have seen the CBC slash jobs and programs in a bid to shave $171 million from its budget amid the economic downturn. Lacroix says 300 employees have accepted early retirement incentive plans, while 250 people have been laid off.

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