Newstalk deal cuts contract costs by third
Newstalk's recently won 'news services' contract will cost the local radio industry about a third of the running costs of collapsed Independent Network News (INN), informed sources tell Postscript.
The Communicorp outfit will charge stations a flat fee of up to €25,000 a year for syndicated news services.
If all 22 stations who were with INN had switched to the Newstalk package, the annual cost to the industry would be about €550,000.
INN, sources say, was spending about €1m a year on its substantial journalist team, and at least another €500,000 on rent and various other costs. Total annual spend? Well over the €1.5m.
"Whatever way you look at the numbers, this way is much, much more efficient," was the view of one radio station chief.