SABC owes artists over R75m in royalties
SABC interim board deputy chair Mathatha Tsedu says he is not at liberty to disclose the amount of a funding proposal.
CAPE TOWN – The South African Broadcasting Corporation (SABC) owes artists more than R75 million in unpaid royalties.
That's been revealed to Parliament's Standing Committee on Public Accounts.
Pressed by MPs, the SABC representatives have conceded its precarious financial position makes it impossible to settle the accounts.
The SABC last paid royalties to artists in December.
Almost R53 million is owed to the SA Music Performance Association, an amount the broadcaster says is under dispute.
The SA Music Rights Organisation is owed R14.5 million.
SABC interim board deputy chair Mathatha Tsedu says he is not at liberty to disclose the amount of a funding proposal submitted to Communications Minister Ayanda Dlodlo last week.
“We haven't asked for a bailout. We have asked for a guarantee from Treasury which we would use to request a loan from the bank because if we go to the bank on our own, the banks don't trust us anymore.”
The SABC says it hopes to have paid all the winners of its Metro FM awards by the end of the month.