The British state broadcaster has been grappling with a reputational crisis as revenue from compulsory licenses plummets
British state broadcaster, the BBC, has announced sweeping cuts, citing financial pressures. The move comes as the network faces mounting reputational issues and a $10 billion defamation lawsuit filed by US President Donald Trump.
The broadcaster told staff on Thursday of an impending 10% cut to its annual cost base over the next three years, and that the reductions would affect all parts of the corporation including its license fee-funded public service arm, according to The Telegraph.
”In a rapidly changing media market, we continue to face substantial financial pressures,” the outlet cited a BBC spokesperson as saying.
The BBC’s operating costs stood at just over $8 billion last year, meaning the savings would amount to around $800 million, the paper noted. The broadcaster had previously pledged $953 million of cutbacks under an existing cost-cutting program.
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