7/8/2004

Companies in this story CHUM Television Articles in related categories Financial reports People Publicly Traded Canadian Broadcasters

TORONTO - CHUM Television announced yesterday a restructuring at its Victoria B.C. television station, The New VI, resulting in a reduction of 29 full and part-time positions.

Organizational changes include a streamlined management team and reorganized operations and news departments. In addition, there will be changes in the program schedule with increased emphasis on the station's daily morning show and evening news programs, said the press release.

"This is a difficult but necessary action as the station continues to perform below our expectations after three years of operation," said Stephen Tapp, executive vice-president television, CHUM Limited. "These changes are essential to building a profitable business that will continue to serve local Victoria and Vancouver Island viewers."

The one-time costs associated with these changes will be approximately $650,000 and the annualized operating cost savings are projected at approximately $1.4 million. The restructuring is expected to be fully implemented by September, 2024.
 
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