Channel Five is expected to announce massive job cuts after losing 10 per cent of its advertising revenue.
According to the media news site Broadcast Now, at least 110 people will be made redundant from all areas of the channel when the results of a cost-saving review are published next week.
Five chair and chief executive Dawn Airey has already begun cutting costs by dropping programmes, including Trisha Goddard’s long-running talk show, and renegotiating the fees for shows like The Wright Stuff. She said the aim was to ‘focus our resources on the most commercially critical parts of the schedule’.
Talking on Radio 4 on Wednesday, Dawn Airey said: “The money that is leaving TV is probably not coming back. You have to redress your cost base – not just [in terms] of running the business, but also the cost of production.”
The sweeping cuts come as commercial broadcasters face tough financial decisions as a result in a cut in advertising funding.
ITV was left reeling when it lost 15 per cent of its annual income and is expected to announce 500 extra redundancies, with the ITV studios badly affected.