S4C now trimmed to the bone, says IWA

S4C risks entering a "cycle of decline" unless its funding is sustained, the Institute of Welsh Affairs (IWA) has warned.

The think tank has also called for the Welsh language TV channel's independence to be safeguarded and for BBC Wales' budget to rise by £30m.

The IWA's Audit of Welsh Media has been published ahead of a sell-out media summit in Cardiff on Wednesday.

Hywel Wiliam from the IWA's media policy group said S4C had now been trimmed to the bone.