CMF cuts program budget by 5.8% amidst declining BDU contributions

TORONTO - The Canada Media Fund (CMF) has set its 2017-2018 program budget at $349.7 million, some $21 million less than last year’s budget.The CMF program budget is supported by revenue estimates for the coming year based on contributions from the Government of Canada; Canada’s cable, satellite and IPTV distributors; and recoupment and repayment revenues from funded productions. The program budget reflects a stable contribution from the Government of Canada and an expected decline in Broadcast Distribution Undertakings’ contributions to the CMF for the year to come. “We understand that a program budget decrease of 5.8 per cent will have an...