Channel 4 cutting acquisitions budget

5:00 AM PDT 8/25/2007 by Mimi Turner, AP

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EDINBURGH -- Channel 4 is slashing its acquisitions budget by £10 million ($20 million) a year as part of an ambitious push to fill its schedules with bold original programming, and will mount a full-scale clear-out of some of its most successful series in order to create primetime space for the new shows, it said Friday.