Australian broadcasters see the potential for significant cost savings in the current year, if major sports events are canceled and remain off air.
Nine Entertainment, in a statement on Monday, said that it aims to cut $163 million (A$266 million) from its cost base this calendar year as a reaction to the economic crisis caused by the coronavirus outbreak.
Powered by massive commodity exports and close business links to China, Australia had enjoyed some 18 years of economic expansion.
That has almost certainly come to an end, as the world heads for a recession caused by travel restrictions and stay-at-home measures ordered by governments to combat the spread of the virus.
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