Story Categories: advertising, Finance, Japan, Tokyo, TV,

    The pay cuts will affect 29 board members and will be in effect for nine months, until March 2009.

    Kimiwada also said that TV Asahi is setting up a special task force to study ways to raise revenues and cut expenses.

    TV Asahi spot ad sales for June were down 10% compared with the same month the previous year.

   Separately, at rival network TV Tokyo chairman Sadahiko Sugaya and prexy Masayuki Shimada announced Monday they will take 15% cuts in compensation. Also, pay for senior managing and managing directors will be cut 10% and directors 5%. Execs will also see their expense allowances shrink by 10%.

    TV Tokyo, the smallest of Japan's five networks, plans to slice total expenses Y2.3 billion  ($21.7 million) in the current fiscal year, including $17.9 million in production costs. The aim is to finish fiscal 2007 with operating profits of $12.3 million.