LPIF to wind down within two years

OTTAWA-GATINEAU – The controversial Local Programming Improvement Fund (LPIF) will be phased out by August 31, 2014, the CRTC announced Wednesday. Citing the advertising market’s recovery and the completion of the digital transition, both of which have helped to improve the financial situation of the country’s local television broadcasters, according to the Commission, the Fund’s contribution rate will be reduced from 1.5% to 1% for the 2012-2013 broadcast year, and to 0.5 % for the 2013-2014 broadcast year before being discontinued entirely effective September 1, 2014. “While the implementation of the LPIF was appropriate to address the issues facing local stations at...