TV3 cutback as its ad revenues fall

TV3 has announced a number of cost cuts. The company will be seeking up to 15 redundancies as part of its cost reduction programme.

The recently reported decline in TV3 revenues and forecasted continuing weakness in the advertising market has required TV3 to adopt a prudent approach for the year ahead. Efficiencies in studio operations, news reporting and administration will deliver cost savings to mitigate shortfalls from the ad market.The business will continue in its strategic objectives to increase the level of home-produced output, develop a multi-channel offering with the integration of Channel 6 and diversify with the imminent launch of the new online business.