{"id":274265,"date":"2018-09-04T16:36:52","date_gmt":"2018-09-04T14:36:52","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=274265"},"modified":"2018-09-04T16:38:37","modified_gmt":"2018-09-04T14:38:37","slug":"the-sabc-posts-a-massive-r622-million-loss","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/broadcasting\/274265-the-sabc-posts-a-massive-r622-million-loss.html","title":{"rendered":"The SABC posts a massive R622-million loss"},"content":{"rendered":"<p>The SABC has reported a loss of R622 million for the year ended 31 March 2018, according to a report by <a href=\"https:\/\/www.businesslive.co.za\/bd\/companies\/2018-09-03-sabcs-financial-year-loss-of-r622m-is-somewhat-less-terrible-than-2017s-figure\/\" target=\"_blank\" rel=\"noopener\"><strong>Business Day<\/strong><\/a>.<\/p>\n<p>This figure is an improvement over the SABC&#8217;s restated loss of R1 billion in the previous financial year.<\/p>\n<p>The broadcaster&#8217;s latest annual report reflected a revenue figure of R6.6 billion, slightly higher than the previous year, too.<\/p>\n<p>Auditor-general Kimi Makwetu said the SABC was commercially insolvent as it was unable to pay its debts on time, and issued a disclaimer on the financial statements of the corporation.<\/p>\n<p>According to SABC chairman Bongumusa Makhathini&#8217;s statement, the SABC board has implemented measures to stabilise the corporation and address &#8220;endemic levels of corruption and maladministration that have been prevalent at the SABC for many years&#8221;.<\/p>\n<p>&#8220;The corporation is still paying the price for years of ineffective leadership, failed governance, and prejudicial decision making,&#8221; he said.<\/p>\n<p>&#8220;Self-inflicted actions like the arbitrary 90-10 decision continue to impact on the SABC\u2019s revenue,&#8221; he added, addressing the impact of local content quotas.<\/p>\n<p>He said the migration from analogue to digital terrestrial television was necessary to sustain the broadcaster.<\/p>\n<p>ICASA&#8217;s regulations regarding sports rights and SABC channels should also be reviewed to lessen the financial strain on the entity, said\u00a0Makhathini.<\/p>\n<h3 class=\"my-4\">Now read:\u00a0<a href=\"https:\/\/mybroadband.co.za\/news\/broadcasting\/274123-the-difference-between-r99-and-r169-netflix.html\" rel=\"bookmark\">The difference between R99 and R169 Netflix<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>The SABC has reported a loss of R622 million for the year ended 31 March 2018.<\/p>\n","protected":false},"author":23,"featured_media":173656,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_facebook_post_id":"","_sma_instagram_post_id":"","_sma_threads_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[24],"tags":[24248,1001,51027,53599,361],"class_list":["post-274265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-broadcasting","tag-corruption","tag-financial-results","tag-loss","tag-public-broadcaster","tag-sabc"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/274265"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=274265"}],"version-history":[{"count":1,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/274265\/revisions"}],"predecessor-version":[{"id":274267,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/274265\/revisions\/274267"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/173656"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=274265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=274265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=274265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}