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The British Broadcasting Corporation, or BBC, is the world's largest public service broadcaster, but the media giant is sharing the UK's economic pain. The company will axe 2 thousand jobs in response to a 20 percent cut to its annual budget imposed by the government a year ago.
The world's biggest broadcaster is about to become "significantly smaller."
The BBC - which is paid for with public money - is to axe 2,000 jobs over the next 5 years.
It's cutting its budget by 20 percent.
It's responding to harsh cuts imposed on them by the government
Mark Thompson is the BBC's Director General.
[Mark Thompson, Director General of BBC]:
"Of course it's not just the BBC but every public institution in the country and infact the whole British economy is going through quite difficult times and I think in the end it's reasonable that the national broadcaster should be going through the same experience that the rest of the British public are."
The changes will see the BBC share content across its services, show more repeats and sell some of its London properties.
Stewart Purvis, a Media professor, says the government got what they wanted.
[Stewart Purvis, Professor of Television Journalism, City University London]:
"If there are winners out of this announcement today I think in some ways it's the government. I mean they told the BBC we're going to freeze your license fee and in return you get guaranteed revenues for a few years but we don't want you to shut any services and that's what's happened."
The BBC have eight national TV channels, 50 radio stations and an extensive website.