No federal help for CBC

The CBC isn't going to get any help from the federal government. That's the message from Heritage Minister James Moore, according to a report from the Canadian Press.

Speaking at an event in Toronto today, where he announced that the Canadian Television Fund and the Canada New Media Fund would be combined into a new Canada Media Fund, Moore said the public broadcaster would have to make do with its $1.1 billion in annual government funding.

The CBC has been struggling with a $65-million advertising shortfall, and recently suffered another blow on February 26, when federal government spending estimates showed a drop of $62-million in additional annual funding for the broadcaster in 2009-2010--representing  5.6 per cent of  its annual budget.

CBC president Hubert Lacroix has previously stated the corporation might have to turn to more U.S. programming and sell off some of its assets, such as Radio 3.