The World: Toronto - Cabinet seeks lifeline fund for local TV operators

Canada's federal cabinet is looking into creating a $120 million-plus lifeline fund to help local television operations at private broadcasters weather the storm of the recession as TV ad revenue continues to fall.

The news arrived a day after the private broadcaster Canwest Global secured an extension with lenders on ongoing debt repayment discussions.

The Canadian Media Guild called for the fund to be extended to the Canadian Broadcasting Corp, which has also been hit hard by diminishing TV ad revenue. Unions raised concerns that the bailout should not relax content obligations.

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