from CBC,

Funding shortfalls and revenue losses have forced CBC/Radio-Canada to cut $130 million from its budget this year, a move that will eliminate 657 jobs over the next two years and take the network out of competing for the rights to broadcast professional sports, the public broadcaster announced on Thursday.

CBC said it could no longer compete against private broadcasters that have specialty sports channels and multiple media platforms. The result will mean fewer sporting events will be covered, including amateur sports. But the CBC will still compete for sporting events of national significance, like the Olympics.

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