Broadcaster hit by €17m net deficit last year

RTÉ suffered a sharp downturn in its financial situation last year with a net deficit of almost €16.8m compared to a shortfall of just €4.7m in 2010.

The deterioration in its finances comes despite RTÉ reducing its operating costs by €7.1m to €369.5m last year.

TV advertising has been worst affected by the downturn in the economy, falling by €6.3m last year and by 40% over the past five years.