Coronavirus Hits ITV as Programming Budget Cut by $116 Million
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variety.comU.K. broadcaster ITV is reducing its program budget by £100 million ($116 million) in the wake of restrictions imposed by the coronavirus pandemic.
In a trading update on Monday, ITV said: “This reflects savings from sport including the postponement of Euro 2020, the late delivery of commissioned programming and active decisions to reduce our spend.” The company has taken steps to reduce discretionary spending by $23 million in 2020, in addition to a $11.6 million savings planned for the year.
ITV has also identified $35 million of savings in capital expenditure. ITV has halted filming on popular shows “Coronation Street” and “Emmerdale.” “We are operating in unprecedented and uncertain times, requiring us to take difficult decisions, plan
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