RAI to reduce spending by nearly $10 mil
Losses for 2010 were estimated to reach $219 milROME -- Italian state broadcaster RAI said Friday that it will reduce spending on cinema and television productions by €7 million ($9.9 million) as part of a wider cost-saving program.
Earlier in January, RAI's estimated losses for 2010 were estimated to reach €155 million ($219 million). That figure was reduced to €125 million ($176 million) earlier this week with all-around belt-tightening. And on Friday, officials said it would be further reduced to €118 million ($166 million), with all the reductions trimmed from the company's budget for cinema and television productions. RAI did not say how much its overall cinema and TV budget was worth.
Officials said no further reductions were planned for 2010.
Along with Mediaset and its film production subsidiary Medusa, RAI is one of the country's largest producers of original cinema and television content.