BBC director outlines cutbacks<br />
Company faces $207 mil shortfall
LONDON -- BBC director general Mark Thompson warned staff of ongoing tightening finances Thursday, announcing cutbacks and efficiencies relating to the sliding value of the pubcaster's property portfolio.
In an e-mail to all staff, the director general said the BBC faced a potential 140 million pounds ($207 million) shortfall if it could not offload a number of properties, including its flagship headquarters and studios in West London, and faced an extra 8 million pounds ($11.8 million) in utility bills following hikes in the price of heating oil.
"A team led by Strategy and Finance is now talking to the divisions about where savings can be found," Thomson wrote in the e-mail, citing corporate hospitality and attendance at industry awards as areas that would face cutbacks. Further details of the cost-cutting are expected next month.