Film arm Degeto loses $26.1 mil from budget
BERLIN — German pubcaster ARD has slashed €20 million ($26.1 million) from the budget of its Degeto film arm for the next two years.
However, outgoing chairman Peter Boudgoust said Wednesday that production and co-production would not be affected. Cutbacks will be made in funds for licensing, particularly of foreign films, with more reruns to make up the shortfall.
ARD is also cutting $26.1 million from its sports programming budget over the next two years.
The pubcaster blamed the cuts on a drop in funds raised by the mandatory license fees paid by viewers, due to the country’s declining population.