The CBC no longer has the rights to their highest rated program—Hockey Night in Canada. This is a big loss for CBC and will cost them over $2 billion throughout twelve years, according to Blacklock’s Reporter

The information was provided through an internal federal memo. Though the company’s ad revenues have been falling, in a confidential report, CBC noted that it continues to be “the cornerstone of culture and democracy.” 

Last year, in a briefing note for Pablo Rodriguez, the previous Heritage Minister, CBC staff wrote, “CBC Television lost its long-standing flagship sports broadcast Hockey Night In Canada which had been part of the broadcaster’s programming lineup for fifty-five years.”

The contract was bought by Rogers Inc. in 2013 and cost the communications company $5.2 billion. The contract is good until 2026.