Public broadcasters SBS and the ABC are facing funding cuts of between $200 to $300 million, on top of the $35.5 million reduction announced in the federal budget.
Fairfax Media is reporting the figure, implemented over five years, has been confirmed by government sources and will be part of the mid-year economic and fiscal outlook (MYEFO), released in December.
Communications minister Malcolm Turnbull said on radio today that the latest round of funding cuts had been finalised and “the management of both companies are aware of that and the nature of those cuts will be public before too long”.
Over the past week news of TV shows that would not be renewed in 2015 have emerged, including the current affairs satire The Roast and Waleed Aly’s Big Ideas.
There has been speculation that Lateline and the state-based Friday night versions of 7.30 are also facing the axe as the national broadcaster seeks to make savings.
On the eve of the 2013 federal election, then opposition leader Tony Abbott pledged “no cuts to the ABC or SBS” on SBS TV.
The latest cuts, spread over five years, come in the wake of an efficiency study into the broadcasters co-authored by former Seven West Media CFO Peter Lewis, who last month was appointed to the ABC board by the federal government.
Read more here.
Business Insider Emails & Alerts
Site highlights each day to your inbox.