This is a bit late, but I guess it didn't seem like news in a way - the way the economy is going, media companies are bound to have cutbacks. What did strike me as important is that CTV seems to have so much money (enough to buy the hockey song, to win the bid to carry the Olympics, and to fly all the local anchors in and throw a massive party for their 50th anniversary) that I thought it would be a while before they talked cutbacks. And I worried very briefly for my friends in my old workplace, although as soon as I thought about it for five minutes it seemed impossible to cut any of their jobs - it's so bare bones as it is. I'm sure people in other newsrooms at other companies would say the same thing though.
Apparently the first casualty is the planned coverage for the APEC summit. They won't be sending a reporter anymore, and may be leaning on the Canadian Press to lend a hand with tv hits. They will also have a Globe and Mail reporter there (update: the Globe reporter stayed home too), so they have a couple of options. But it means viewers will now get the same coverage from multiple sources.
Next up for media cuts: CBC execs have been told not to fly to Paris so often.
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