Channel Nine’s 60 Minutes ‘facing the axe to save $20million yearly budget – with reporters such as Liz Hayes on $500,000 salaries’
Channel Nine’s 60 Minutes may be the next TV program to suffer amid COVID-19.
According to The Sunday Telegraph, the network are ‘considering axing the show’ in a bid to save money, with the entire news division reportedly facing cuts.
It is claimed that the leading current affairs program costs $20million a year to produce, with reporters such as Liz Hayes, 63, on a salary of $500,000.
A thing of the post? Channel Nine’s 60 Minutes is reportedly facing the axe as the network attempts to save $266million amid the COVID-19 pandemic
’60 Minutes’ budget is around $20million a year. It’s an obvious place to start, with the program slipping in the ratings and failing to hold on to the leads given it by shows like Lego Masters,’ an insider told the publication.
The insider added that ‘almost a quarter of the cuts’ at the network could come from the costly news division, which is said to have a yearly budget of $180 million.
Daily Mail Australia has contacted Channel Nine for comment.
Pricey: The Sunday Telegraph claim the current affairs program costs $20million a year to produce, with reporters such as Liz Hayes (pictured), 63, on a salary of $500,000
In March, Nine outlined a plan to save $266million amid the COVID-19 pandemic.
It was said that almost half of this would be saved from not broadcasting the current season of the NRL, which looked uncertain after all matches were cancelled.
Nine reportedly pay $130million a year for broadcasting rights to the NRL.
However, with matches set to resume later this month, The Sunday Telegraph claim the network must now find other parts of the business to save the $130million.
Changes: The insider added that ‘almost a quarter of the cuts’ at the network could come from the costly news division, which is said to have a yearly budget of $180 million. Pictured: Karl Stefanovic, Charles Wooley, Liz Hayes, Sarah Abo, Allison Langdon and Tara Brown
Nine’s CEO Hugh Marks spoke of cost-cutting amid COVID-19 in March.
‘This is a very difficult time for all Australians, on many levels,’ Mr Marks said, according to The Sydney Morning Herald.
‘Notwithstanding an expected significant impact on our business as conditions continue to evolve, we are confident that with our enhanced audience position, our mix of assets and the commitment of the Nine team, we will emerge from this period a stronger and more competitive company.’
Back on: In March, Nine said they planned to save $130m of $266m by not broadcasting the NRL, but games are now set to resume, meaning they must find the money elsewhere