The Russian state broadcaster VGTRK (RTR) is being forced to obtain loans in order to fund TV productions.
Referring to a report by the Accounting Chamber, Vedomosti reports that increased competition in the marketplace is forcing VGTRK to raise the amount it spends on the production of news programmes, movies and TV series so as to retain its audience.
VGTRK was allocated R23 billion (€480.5 million) from the federal budget last year, with 78% being provided to the main broadcaster and 13% to regional branches.
The auditors found serious violations in the latter’s funding. VGTRK output includes the TV channels Rossiya 1, Rossiya 2, Rossiya 24, Sport 1 and Sport 2.
