RÚV Expected To Run At Significant Operating Loss

Iceland’s National Broadcasting Service, RÚV, is expected to run at a loss of 357 million ISK, substantially higher than anticipated, reports RÚV.

As a result the RÚV board has asked for an independent audit of the broadcasting service.

The results were presented at a meeting of the board this afternoon where it was estimated that the operating costs would be 305 million ISK for the first half of the fiscal year and 357 million ISK for the year as a whole.

The newly appointed Director of RÚV, Magnús Geir Þórðarson began work last week and his first order of business will be to address operational costs. The board has emphasised that they do not believe this loss will require further layoff measures.

Further Reading

New Director of RÚV Announced

National Broadcasting Director Resigns

State Broadcaster Fires 60 Employees

Four Hundred Strong Protest Layoffs At RÚV