BBC needs to make up £140 million shortfall

The BBC is looking at new cost-cutting tactics to meet a £140 million shortfall over the next five years.

A number of the corporation’s services will be reviewed as part of the budget cuts, including plans to sell off key buildings such as the BBC Television Centre in West London, according to reports.

Other services likely to be hit by the plans include reducing the budgets of digital youth channel BBC3 and its highbrow sibling BBC4.

“There is a suggestion that BBC3 and BBC4’s budget’s could be cut as a result of the shortfall but it is early days, no decisions have been made yet,” revealed an insider.

BBC3’s annual budget has already been cut from £97 million to £80 million.

A BBC spokesperson said: “We’ve only just begun this work so it is completely premature to speculate where savings might be. We are clear that one of the key guiding principles is to maintain the high-quality output that we continue to deliver – absolutely no decisions have been taken.”

BBC: 020 8743 8000 www.bbc.co.uk