OTTAWA — The CBC says a one-year investment of $42 million in the federal budget will help the organization avoid further "significant" staff and programming cuts.
The public broadcaster says in a statement that thanks to the new money, it doesn't anticipate any major cuts this year and will be able to address its remaining forecasted shortfall and balance its budget.
Last December, CBC/Radio-Canada announced a $125 million projected shortfall for the 2024-2025 fiscal year and said it would cut 800 jobs and $40 million from its production budget.
It subsequently reduced its workforce by 141 employees and cut another 205 vacant positions, but says its financial situation has since improved.
CBC says the new funds announced in Tuesday's budget will allow it to manage its financial challenges in a more stable manner at a critical time for the corporation.
CBC/Radio-Canada President and CEO Catherine Tait says it's good news for Canadians who count on the public broadcaster for news, information and programming, including coverage of the upcoming Summer Olympics and Paralympic Games.
"This investment, together with the steps we have taken since December, means we will be able to stabilize our operations, preserve jobs, and continue to invest in programs and services," Tait said in a statement.
The CBC had said earlier this year that about $11 million of its projected shortfall would come as a result of an expected 3.3 per cent budget cut. But the Treasury Board, which oversees spending in the federal budget, said there was no such directive.
Documents later released by Canadian Heritage showed CBC would get a $1.4-billion budget in 2024-25, an increase from the $1.3 billion it spent in the previous fiscal year.
This report by The Canadian Press was first published April 17, 2024.
The Canadian Press
