CTS CEO Liu Chang-De's Term Ending, Company Clarifies Financial Losses

Central News Agency Report

(CNA reporter Hung Su-chin, Taipei, 17th) CTS General Manager Liu Chang-De yesterday issued a statement explaining that his term will end on July 31, amid reports about CTS's financial losses. Today, CTS released a statement clarifying its financial situation, stating that the increasingly weak television advertising market has led to average annual losses of approximately NT$250 million.

Yesterday, CTS issued a statement indicating that General Manager Liu Chang-De, during the 11th board meeting (24th term, 38th session), stated that his secondment has already been extended twice during the one-year extension period approved by the parent organization, the Public Television Service Foundation's board, and that his term will end on July 31.

Regarding the reported financial losses, CTS today released another statement clarifying its financial status. The statement noted that since the current board was formed, the losses over the past three years were over NT$240 million, over NT$230 million, and over NT$260 million respectively, and there has been no year with losses reaching NT$300 million. It acknowledged that in certain years prior to the current board's tenure, losses did exceed NT$300 million, but these did not occur during the current board's term.

CTS further explained that television advertising revenue has declined year by year. Last year, overall television advertising volume dropped by nearly 20%, making it even harder for CTS, which cannot run election-related advertising, to expand its revenue. Despite these challenges, all CTS staff have continued implementing various revenue-generating and cost-saving measures, maintaining the annual deficit close to the long-term average over the past three years. (Edited by Li Heng-shan) 1150617