BBC News channel faces axe?

The BBC News channel, as we know it, is facing the axe in a bid to save millions of pounds.

Radio Times reports that the BBC has launched a review of the news channel and its position over the next ten years. James Harding, Head of News, BBC, told staff yesterday warned that it ���can�۪t afford to do everything�۝ as it faces millions of pounds worth of cuts. He added that it was ���set for a defining year�۝.

The BBC needs to find an initial �5m in savings as part of the Corporation�۪s overall target of �150m in annual savings by 2017.

Recently, the BBC announced it was shutting the TV version of BBC Three next month and moving it to online-only.