The South African Broadcasting Corporation (SABC) was heading for factual insolvency by the end of March and a net financial loss of R568 million for the financial year.
This is according to information given to members of Parliament by the SABC's management on Tuesday.
The CEO Madoda Mxakwe says the loss was R281 million more than expected.
He said the company was suffering for "the past total disregard for process" under the previous management teams.
The consequences of the financial crisis included content providers refusing to interact with the SABC because they have not been paid, and the company not being able to purchase the rights to air sporting events.
The SABC has also found itself unable to perform routine maintenance on its buildings and this was posing health and safety concerns.
- African News Agency (ANA)
