Austrian public-service broadcaster ORF has said that it is considering not renewing its rights for the Formula One motor-racing championship beyond 2014 due to cost-cutting measures, according to the Kleine Zeitung news website.
ORF’s chief financial officer, Richard Grasl, said that the broadcaster needs to focus on its core activities and reduce costs.
“The cost of Formula One is significant and because of that we have to consider that when the contract expires, whether we cannot use these funds for distinctive Austrian content such as movie productions or documentaries,” he said.
ORF has held Austria’s live F1 broadcast rights since the 1960s.