The CBC will not receive any bridge financing nor additional funding from the federal government for the upcoming year, Heritage Minister James Moore said in Toronto Monday morning.

Moore, on hand to announce the merger of the Canadian Television Fund and the Canadian New Media Fund, confirmed that the public broadcaster will not be getting any financial assistance from the federal government amid the current recession.

"The CBC is receiving $1.1 billion this year and that's the allocation that they will have for this year," Moore said, responding to a question about the CBC.

His comments echoed those made by Finance Minister Jim Flaherty in late February.

CBC/Radio-Canada president Hubert Lacroix had appealed to the federal government for flexibility in its parliamentary appropriation — such as an advance on or loan of upcoming funds — to help the public broadcaster weather the current difficult economy.

The sharp drop in advertising revenue that has plagued media outlets across the country has also affected the CBC, with Lacroix acknowledging that the broadcaster's ad revenue estimates for 2009-2010 will be $60 million or more below budget.

"CBC is receiving record investment from our government and I have every confidence that their management can make do with the taxpayer money they're getting," Moore said.

As part of Moore's announcement on Monday, the newly unveiled Canada Media Fund will eliminate the guaranteed funding envelope for programming earmarked for CBC/Radio-Canada and provincial educational broadcasters that currently exists under the Canadian Television Fund.