How Will Losing Hockey Night in Canada Affect CBC?
The Canadian Broadcasting Company could soon undergo some major changes. With the recent acquisition of Hockey Night in Canada by telecom company Rogers Inc. in a $5.2 billion 12 year exclusive deal, CBC is losing a huge draw in their television lineup.
Though CBC will continue to run the program for the next 4 years, the loss of exclusive NHL rights will mean a loss of revenue, which will also cause the company to seek revenue elsewhere.
CBC president Hubert Lacroix has called for a meeting of all Radio-Canada employees Thursday in order to address the imminent financial issues. Sources say that CBC will likely look towards layoffs in order to fill the gap, though the number of layoffs and how union seniority will play a factor is yet to be determined. If this is indeed what the company is looking to do it will mark their third major job cuts in five years after announcing to lay off 800 workers in 2009 and roughly 650 in 2012.
The CBC has over the years been experiencing several pitfalls that have caused the once dominate sports news provider to dwindle.
http://www.financialpost.com/m/wp/fp-tech-desk/blog.html?b=business.financialpost.com/2014/04/07/cbc-expected-to-make-deep-cuts-thursday-in-wake-of-losing-hockey-night-in-canada&pubdate=2014-04-08
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