TORONTO – On Tuesday CHUM announced the launch of the CHUM Prairie Bridge Finance Program (CPB).
The new program is part of CHUM’s nearly $20 million commitment in programming benefits to Alberta and Manitoba as a result of its acquisition of Craig Media Inc., and will provide “much-needed gap funding in the form of recoupable loans for eligible television and film projects,” says the CHUM release.
The CPB initiative will make available $500,000 in gap financing to Alberta and Manitoba-based production companies. This is in addition to the previously announced $6.9 million in licence fees and other expenditures to independent producers in Alberta and Manitoba. As loans are repaid, funds will revolve, be re-invested and made available to assist additional projects.
"Access to term loans and operating funds during the production phase is a chronic problem for independent producers. This affordable, innovative, new initiative, the first of its kind from Canadian broadcasters, was designed based on suggestions made to us by the independent production community about how we could best assist smaller producers," said Diane Boehme, senior director of independent production, CHUM Television.
Gail Yakemchuk will administer the CHUM Prairie Bridge Finance Program as development officer, independent production, prairie region. Prior to joining CHUM, she was executive director of Calgary-based Shaw Television Broadcast Fund (now Shaw Rocket Fund), where she was integral in its launch. She was also executive director and business analyst of the Shaw Children’s Programming Initiative (SCPI).
Eligibility and application details can be found here. Gail Yakemchuk can be reached at (780) 440-7740 or gail.yakemchuk@chumtv.com.
