Business Services Industry
ABC black hole swells to $30m.
Australasian Business Intelligence, August, 2003
Aug 05, 2003 (The Australian Financial Review - ABIX via COMTEX)
More job losses and program cuts are in the offing at the ABC. The Australian public broadcaster plans to pull the plug on its educational production unit in South Australia. Eleven children's shows will go, besides the current affairs program for children, "Behind the News". The management revealed on 5 August 2003 that it had a $A30 million black hole to plug. The shortfall was $A4 million more than previously thought. A day before, the ABC's MD, Russell Balding, said he was cutting spending by $A26.1 million. The broadcaster plans to close a number of international bureaus. Meanwhile, Australian Communications Minister, Richard Alston, attacked the ABC for axing programs like "Behind the News"....
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