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Thank you, Tim.

Over the last 18 months, I have come to understand that there are a couple of key facts about CBC / Radio Canada that should be common knowledge,
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We are pioneers in new services and platforms because we are committed to giving Canadian audiences the content what they want, when and how they want it.

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I hope that you saw there a national public broadcaster that helps bring an increasingly diverse nation together, a broadcaster that is a mainstay of Canadian culture and democracy,
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$34 per capita/year:

34 dollars a year,
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So how does $34 a year compare to other Western countries? In a recent study,
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A year of paradox: unprecedented success despite financial crisis

2008 was a year of paradox: on the one hand, we had unprecedented success. On the other, we faced a daunting financial crisis and some extremely difficult decisions.

While other conventional broadcasters were struggling with their audiences,
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T de Radio Canada maintained its prime time market share of 19.1 per cent for the television season,
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This strength carries over into our non conventional services; for example, in 2008 our Internet sites drew visitors monthly two million podcast downloads every month.

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Simply put, we and other Canadian conventional television broadcasters depend on advertising revenues that were steadily declining even before the global economic downturn hit in mid 2008.

Our forecasts showed that continued weakness in advertising revenues, combined with contractual cost increases and other financial pressures, meant that we would be faced with a shortfall against budget of approximately $171 million for 2009

I let Morris, our Vice President and Chief Financial Officer walk you through the numbers in a few minutes.

For my part, suffice it to say that our only option was to substantially reduce our staffing levels and our programming.

Cuts guided by key priorities

Our choices were very difficult. Although painful, they were guided by our three key priorities: People, Programs and Pushing Forward.

Our people

To protect our people, we tried to contain the number of layoffs as much as possible. Every single job was important to us. Still,
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The need to cut positions was especially discouraging because we have made progress in the last few months on what has been for me a personal priority building stronger and more collaborative relationships with our people, our employees and our unions.

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