RTÉ director general Kevin Bakhurst has dropped a shocking update on the future of the national broadcaster, revealing that it could be insolvent by spring.
has dropped a shocking update on the future of the national broadcaster, revealing that it could be insolvent by next Spring, without additional funding by the government.Speaking in the Dáil this week, Bakhurst told the Public Accounts Committee that RTÉ is facing a loss of between €10-12 million in 2023, which could rise to over €20 million by the end of the year.
It was also revealed that the broadcaster has a cash reserve of around €68 million and has borrowed €65 million of its €100 million borrowing limit.Speaking about when the cut-off point would be for government support to come through, Bakhurst said,"We've done various scenarios. We need it by early spring next year. But I understand the timetable is earlier than that.
"Among the elements being explored is the sale of more of the campus," he said."An issue that I know several of you have expressed an interest in. "We are awaiting more up-to-date valuations but early indications are that a complete sale of the Donnybrook campus is unlikely and the repurposing of the current site will not be without challenges and significant costs.
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