The news yesterday that CTV is in for some layoffs and budget cuts was hardly surprising given what’s been going on at the other networks in Canada. I feel bad for my friends who still work there, but CTV really brought it on themselves. Here’s a list of some of the places they’ve spent their money in the past year:
- Remodeling the entire 5th floor of 299 Queen St. W for a few million (estimate)
- Purchase of the Hockey Night in Canada theme song for approx. $2.5M
- Buying up all the real-estate between Queen-Richmond & John-Duncan for approx. $2M
- 2010/2012 Olympic games broadcast rights for approx. US$90M (CBC had paid $73M for 2006/2008 Games)
- Purchase of CHUM Limited for $1.7B
I’m no fancy economist, but the millions they spent on the HNIC theme song and the remodeling alone would probably float their payroll for a while.
CTVgm is a privately-owned company so there’s no way to know how bad they are in a red. But if they are in need of cash, I predict a sell-off of a couple of their satellite properties in the coming months. In particular, The Globe and Mail or TSN. Since Rogers is the only “media” company that’s doing well at the moment, I’d bet I can guess who is going to buy them up 
Tags: ctv, ctvglobemedia
Don’t forget buying up the entire city block around 299 Queen st -> another few million for sure. They already sold off OLN to Rogers too.
Oh yeah, I forgot about that! I added that to the list
Thank you, anonymous stranger!
Million dollar Christmas parties with live horses might add to that too
You hot live horses at the Christmas parties?!? Damn. Best I got when I was there was Frodo and some belly dancers…
GOT. You _got_ live horses. What I meant to say.
I bet I could think of a few other places they are wasting money and soon will.
Count all the expensive Mercedes and Porsches in the CTV parking lot. I bet none of those car owners are going to be taking pay cuts to help save money.
I hear Ivan is going to start riding a bicycle…in the summer…if it’s not too hot…if he doesn’t have to go far…