The federal cabinet is considering a $150 million fund for private broadcasters to help save local TV stations and their newscasts. These broadcasters have been lobbying the Prime Minister to come up with short-term and long-term assistance.
The fund would be tied to news and current affairs programming and would favour smaller urban centres. A formula would be created to ensure big cities like Toronto and Montreal did not take most of the money. It is still unclear whether the CBC would be eligible for this fund. Private broadcasters have been vigorously lobbying against it.
Source: Broadcaster, 04/08/2009