South Africa: Is The Financial Crisis At The SABC Deepening?
According to City Press, the institution is currently in operational debt to the tune of ZAR 100 million (US 8Million Dollars). It is believed that the debts are owed primarily to independent producers.
Accordingly, many experts are now unclear as to how the SABC will be able to recover from its financial predicament, also given the nature of the changing framework of the broadcasting and media landscape and factoring the dwindling and declining advertising revenues.
Although SABC management executives are busy trying to put together rescue packages, there is the sense that these are going to be a little too late, and that a more strategic and long-term intervention is needed.