TORONTO - CBC says it's cancelling its afternoon business program "On The Money" due to budget constraints as it focuses resources on digital platforms.
CBC News general manager Jennifer McGuire said in a note to staff Wednesday that investments such as enhancing the digital presence of "The National" and expanded podcasting has created pressure in its operational budgets.
She says that along with cancelling "On The Money," CBC has in recent months found savings through discretionary spending, the closing of an international bureau, changes to workflow and technology, and largely attrition-based job cuts.
McGuire says that while CBC has had a daily business program on its all-news channel lineup since its launch in 1989, the loss of the program doesn't mean a move away from deep business coverage.
Host Peter Armstrong says on Twitter that the cancellation was extremely tough news, but he will continue to report on economic issues for CBC.
McGuire says the program's last show will air June 28, after which the time-slot on News Network will be filled with continuing daily news coverage from CBC's Toronto News Network teams.