RTE “has 8 weeks to save itself” as it’s running out of cash fast – TheLiberal.ie – Our News, Your Views

RTE “has 8 weeks to save itself” as it’s running out of cash fast

Image source: RTE

RTE has less than eight weeks to save itself and keep the station afloat, in the wake of the Ryan Tubridy payments scandal, reports The Mirror.

The national broadcaster must undergo radical reforms and implement cost-cutting measures before the government agrees to subsidize.

Media Minister Catherine Martin had asked for an extra €16 million for RTÉ in the upcoming budget before the scandal broke but will need more if it is to survive.

It is understood that CEO Kevin Bakhurst and his leadership have until September to convince the government that changes have been made, reports The Mirror.

Without state support, the company runs the risk of running out of money and may not be able to pay salaries and cover current expenses.

RTÉ is looking for temporary financial support but is having even more trouble finding other means of funding as more and more TV licenses are being denied.

Ms Martin confirmed that royalties were down 31% in the second week of July compared to last year and down 27% in the previous week.

The chairman of the Oireachtas media commission, Niamh Smyth, said the commission was open to meetings during the summer break. But this will only be done if the relevant documents or witnesses are available.

The information requested includes letters relating to the conclusion of a trilateral commercial agreement between RTE, Renault and Mr Tubridy’s agent, reports The Mirror.

The commission is looking for data on all car allowance recipients and the salaries of the 50 lowest earners in the organization.

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