The BBC will [...] cut spending heavily on imported American programmes in an overhaul of services to be announced next month.
Mark Thompson, the Director-General, will admit that the corporation, which is funded by the £3.6 billion annual licence fee, has become too large and must shrink to give its commercial rivals room to operate.
via Times Online.
Hat tip to BCBenGrossman.
And the "It makes tons of money internationally" excuse will become just a little more silly than it already is.