RTÉ reports €4.7m deficit for 2010

13 Jul 2011

RTÉ has reported a €4.7m deficit for 2010 as the company’s chairman warns that Ireland’s national broadcaster faces more uncertainty.

Although the deficit is largely improved from 2009’s figure of €16.5m, chairman Tom Savage said there were “renewed uncertainties” this year.

He said the December Budget, along with changes introduced in the 2009 Broadcasting Act, would have a negative effect of €20m a year on RTÉ.

Some of the changes prevented the group from reporting a small surplus last year.

The developments include having to provide €10m in funding to TG4 from television licence money. A ceiling has also been implemented on the amount to be paid by the Department of Social Protection for free television licences for some social welfare recipients.

There are also increased regulatory costs, RTÉ said.

Article courtesy of Businessandleadership.com