Ian Katz Alex Mahon Coronavirus reports awards 2020 Ian Katz Alex Mahon

U.K.’s Channel 4 to Unveil Cost-Cutting Measures This Week as Ad Revenue Plummets

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variety.com

By Tim Dams U.K. broadcaster Channel 4 is understood to be preparing to announce a range of cost-cutting measures this week as it wrestles with a major slump in advertising revenues due to the coronavirus crisis.

Channel 4 is examining a range of options, which include a 20% voluntary reduction in the salaries of its executive board — which includes chief executive Alex Mahon and director of programs Ian Katz — as well as furloughing some staff during the crisis.

Channel 4’s £1.1 billion ($1.35 billion) in annual revenues have been particularly hard hit in the second quarter of 2020 as it is almost entirely dependent on advertising revenue, which has fallen dramatically as brands have slashed marketing spend during the coronavirus

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