Monday 26 September 2016

RTE facing €20m loss as ad revenue collapses

Samantha McCaughren

Published 11/09/2016 | 02:30

Dee Forbes, the new director-general at RTE, is facing into a perfect financial storm
Dee Forbes, the new director-general at RTE, is facing into a perfect financial storm

RTE is drawing up a new cost-cutting plan as the financial position of the organisation deteriorates in the wake of the Brexit vote.

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It has become clear in recent weeks that television advertising will be down significantly for the autumn. Sources said that RTE's losses for 2016 could be as high as €20m.

Dee Forbes, the new director-general of RTE, outlined the broadcaster's worsening financial position to Communications Minister Denis Naughten in recent days.

Senior RTE managers have also briefed staff on the likelihood of cost savings, which could include voluntary redundancies and a reduction in output.

A spokeswoman for Minister Naughten said he was aware of RTE's financial position and would bring a range of measures to Cabinet shortly, aimed at tackling high levels of licence fee evasion.

Sunday Indo Business

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