Posts tagged with 'broadcaster'

 

SABC financial crisis: National broadcaster faces total blackout

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With uncertainty over whether the SABC will be granted a government bailout, there are now fears that the broadcaster could be forced off air.

Things are looking grim as far as the South African Broadcasting Corporation (SABC) is concerned, with fears that the national broadcaster is heading to a complete blackout.

Long-standing financial strife in the SABC has worsened in 2019, with recent reports suggesting that the broadcaster may not be able to meet one of its most basic obligations at the end of June – paying its employees’ salaries.

The latest report, from the City Press, paints an even darker picture, suggesting that the SABC could be forced off air completely.

In an effort to seek relief from its financial crisis, the national broadcaster met with Minister of Communications Stella Ndabeni-Abrahams and, according to the publication, it was stated in the meeting that a complete blackout was inevitable if the SABC does not receiv
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SABC a sinking ship in a tide of debt – Need R3.2bn bailout to stay afloat

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Faced with an unenviable choice last month – either cough up to service its eight-figure municipality account, or settle the salary bill, the SABC took the high road and paid its staff.

And while the lights are still on in Auckland Park, for now, anyway, the broadcaster is desperately hoping a R3.2bn government guarantee will entice commercial banks to provide the loans it needs to stay afloat.

“I’m not sure how we are going to pay for salaries come end of June,” SABC board chair Bongumusa Makhathini told the Sunday Times this week. “We have also not maintained any of our infrastructure and a communication blackout is imminent. We anticipated Day Zero in March, but we have managed to stay on air until now.” The SABC will meet with the municipality this week to discuss its debt.

The financial position of the SABC has been worsening over the last nine months and the public broadcaster is at the mercy of its creditors as it awaits a
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Cash-strapped SABC to receive yet another government bailout – The National Treasury, has, once again, been persuaded to open its coffers up to the embattled broadcaster

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The South African Broadcasting Corporation (SABC) will receive a much-needed government bailout, after failing to improve its financial position in 2019.

Government, by way of the National Treasury, has, once again, been persuaded to open its coffers up to the embattled broadcaster.

Telecommunications Minister Stella Ndabeni-Abrahams confirmed that the finance minister was expected to finalise the bailout plan, which includes guarantees on loan agreements, and, in due course, release the figures to the public.

SABC bailout “to prevent the broadcaster from collapsing”

While the Treasury has remained mum on details relating to the bailout, Ndabeni-Abrahams explained that the finance minister would sign-off on the agreement “to prevent the broadcaster from collapsing”.

Speaking to SABC News on the current challenges, both financial and operational, facing the public broadcaster, Ndabeni-Abrahams explained:

“It is in o
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