At Least One Major News Org May Have Blown Its Budget This Year

It’s been an eventful year for news.
All the protests, natural disasters, royal weddings and so on had already cost news organizations a pretty penny, as we noted back in March.

Now, the death of Osama bin Laden might’ve pushed ABC News over the brink, writes Howard Kurtz in Newsweek. The network has used up its multimillion emergency fund set aside for breaking, unexpected news.

ABC now may need to ask its bosses at Disney for more money, though there’s no “blank check.” But more than half a year still remains and if the first five months are any indication, it’s only going to get more crazy.

Kurtz says that ABC’s exclusive video from inside the bin Laden compound came from their reporter based there, but “the network cut a quarter of its staff last year. It’s hard to measure the scoops you don’t get,” he said.

Certainly ABC won’t be not covering whatever the next major news event is, regardless of its financial situation. And the other networks are in close to the same boat, we’re certain. But how the news looks in 3 or 4 months will be pretty interesting to watch.