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Posted: Apr 19, 2012 CRTC RECOGNIZES TELEFILM'S NEW PRIVATE DONATION FUND
Source: Canada Newswire
Telefilm Canada is pleased to announce that the Canadian Radio-television and Telecommunications Commission (CRTC), the independent public organization that regulates and supervises the Canadian broadcasting and telecommunications systems, has officially recognized Telefilm's new private donation fund as a Certified Independent Production Fund.
Examples of other endorsed funds include the Bell Broadcast and New Media Fund, Le Fonds Harold Greenberg, and the Canada Media Fund (CMF).
"Telefilm is committed to finding innovative ways to fulfill its role as investor and promoter by offering the Canadian industry new tools to help it diversify its funding sources and to attract larger audiences. We are extremely pleased that the private donation fund now has the recognition of the CRTC," said Carolle Brabant, Telefilm Canada's Executive Director. "The CRTC's decision effectively allows Canadian broadcasters to play an even bigger role in fostering the creation of Canadian content as well in the marketing and promotion of homegrown stories. Along with the backing of the Canadian Chamber of Commerce, Canada's most influential business association, support for this unique initiative continues to grow as we anticipate announcing shortly the names of five champions."
Under the CRTC's Broadcasting Distribution Regulations, broadcasting distribution undertakings (BDUs) are required to contribute to the Canadian broadcasting system by fostering the production of new quality Canadian programming through a financial contribution to be directed to an independent production fund. Specifically:
- A BDU must direct a minimum of 80% of its contribution to the Canada Media Fund (whose funds are administered by Telefilm);
- A BDU may direct up to 20% of its contribution to one or more independently-administered production funds, other than the CMF, provided that it meets certain criteria.
- The private donation fund will also be allowed to be the recipient of Tangible Benefits if there is a transaction involving a broadcast undertaking.