Memo: CBC loses in the billions after HNIC fallout

The Canadian Broadcasting Corporation is hemorrhaging billions of dollars after losing the rights to Hockey Night In Canada, according to an internal federal memo.

According to Blacklock’s Reporter, the television network is out more than $2 billion after losing the 12-year licensing rights to Hockey Night In Canada. The memo, which was obtained via Access To Information, contradicts claims by network executive that the HNIC contract was only worth a “few dollars.”

In a confidential report, the CBC claims it remains “the cornerstone of culture and democracy” despite the large loss in ad revenue.

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