Canada's biggest private television broadcasters made major cuts last year, as they grappled with the recession, but the industry still booked a big financial loss. The Canadian Radio-television and Telecommunications Commission says private-sector conventional TV stations - which include the likes of Global and CTV - reported losses before interest and taxes of $116.4 million in 2009. That was after a massive 93-per cent drop in profits to $8 million during 2008. The CRTC said that national advertising revenues fell by 10.3 per cent to $1.32 billion, in the year ended Aug. 31, 2009, while local ad revenues were also down more than 10 per cent. However, the cost of running the TV operations was also reduced by 2.4 per cent, with most of that money going to pay for buying and producing programs.
Click on the title to read the CRTC release
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