TORONTO, Jan. 31 /CNW/ - The Canadian Television Fund will continue to
support all eligible productions for the 2006-07 year despite significant
disruptions in its funding brought on by the recent actions by Shaw
Communications and Videotron.
At a recent emergency CTF Board meeting, the Board approved a financial
plan that will enable the CTF to maintain financial support to all eligible
productions for the remainder of fiscal 2006-07. All projects currently in
application will continue to be processed and all genres will receive
"The CTF is extremely concerned about our clients and Canadian
productions. The Board understands that a dramatic reduction in CTF funding so
late in the fiscal year would have severely impacted the entire production
industry," says Douglas Barrett, CTF Board Chair.
The financial plan, which calls for borrowing forward against certain
known 07-08 revenues, will however result in an operational deficit for the
current fiscal year, which in turn will need to be recovered from the CTF
"Minister Oda's critical announcement renewing support to the CTF was
welcomed and appreciated news and the CTF thanks the Minister and Government
of Canada," says Valerie Creighton, CTF President. "It permits the CTF to
better plan for 2007-08. However, if the current situation is not resolved,
the CTF must anticipate a significant reduction in the CTF 2007-2008 budget
and program allocations."
The CTF will continue to inform the industry as developments occur.
For further information:
For further information: MaryBeth McKenzie, Director of Communications,
email@example.com or call (416) 214-4429 or (416) 554-7489