Source: Globe and Mail

TORONTO — CHUM Radio, a division of CTV Ltd. (TSX:BCE). is cutting 40 jobs across the country as a result of weaker revenues caused by the recession.

The Toronto-based broadcaster said late Thursday the cuts include 17 layoffs and 23 jobs that aren't filled and will be eliminated.

"Today's announcement is a consequence of the decline in advertising revenue, as a result of the current economic climate," said Chris Gordon, president of CHUM Radio.

"We are proud to be the leaders in most of the 16 markets that we serve, and while these actions are necessary; our focus continues to be on our listeners and advertisers across Canada."

Thursday's cuts are effective immediately and impact stations in Victoria, Vancouver, Edmonton, Winnipeg, London, Toronto, Peterborough-Lindsay, Ottawa and Montreal.

CHUM's strealining comes a day after affiliate CTV said it's shutting down two small Ontario television stations, one of which had been in business for half a century, reflecting the struggling economy and a squeeze on advertising.

The broadcaster said it will not seek to renew the licences for stations CKNX-TV in Wingham and CHWI-TV in Wheatley and Windsor when they expire at the end of August.

The stations operate under the A-Channel brand and are in a part of southwestern Ontario hurt by auto layoffs, plant closures and streamlining of the manufacturing sector.

Last week, CTV, a division of CTVglobemedia (TSX:BCE; TSX:TS.B) announced that it was putting CKX-TV Brandon in western Manitoba up for sale after the CBC decided it wasn't going to continue paying the company to carry its news and entertainment content.

The latest developments involving over-the-air networks mark what some are calling a sea change in the Canadian television industry.

Last month Canwest Global Communications Corp. (TSX:CGS) decided to put its five E! channels up for sale, which sparked outrage in some local communities.

In Hamilton, a grassroots campaign has paired employees at CHCH-TV with other locals to rescue the station from being sold to a community outsider.

The bottom lines at the major Canadian broadcasters have also been shrinking, and companies have already cut hundreds of jobs to tighten their operating costs.

© Canadian Press