Asian Tech Press (Jan 17) -- The British government will reportedly freeze the BBC's funding for the next two years.

The Guardian reported on Sunday that the British government has decided to freeze the £159 ($217) annual charge, required to watch live television and access iPlayer services, until April 2024, and that the broadcaster's license fee will be completely abolished in 2027.

It said that the BBC will have to drastically cut its programme budgets. In this regard, the media outlet will have to negotiate with the government over an entirely new funding model when the final licence fee funding deal expires in 2027.

Founded in 1922, the BBC began providing television services in 1936, making it the world's first television station.