SRG gives Formula 1 the green light

 SRG Director General Armin Walpen's decision to cancel the broadcast of Formula 1 races in order to save money caused some criticism. SRG has now changed its mind: Thanks to additional income from sponsorship and advertising, it is backtracking on its decision and will continue to broadcast the races after all, according to a statement issued on Wednesday. SRG is extending the corresponding contract with Formula One Management Ltd (FOM) until the end of 2010. The agreement includes all live and post-production rights as well as permission to shoot additional broadcast material with its own cameras. The contract applies to all SRG television and radio stations.
This will be possible because SRG will be able to expand its commercial opportunities thanks to a concession from FOM and because the cooperation with long-standing sponsors BMW and Credit Suisse will be continued, Walpen announced. This will "significantly increase" the refinancing of rights and production costs.
SRG announced at the beginning of the year that it wanted to remove Formula 1 from its program in order to save money (see
). In September, Walpen hinted that the decision might be reversed thanks to sponsors.