The ABC and SBS could be asked to work more closely together as the Federal Government looks to continue slashing both their budgets.

This month's federal budget cut about $43.5 million from both broadcasters via a 1 per cent efficiency dividend.

But the Government warned that money was simply a "down payment" on further savings to come, following an efficiency review.

The final report from that review is currently with the boards of the ABC and SBS, but is unlikely to ever be made public.

The 146-page study, which contains 48 areas of analysis across the ABC and the SBS, identifies five key areas that it says may lead to significant operational efficiencies or savings.

These include the merging of some operational aspects of the SBS and ABC, retiring old technologies and finding new ways for the ABC to raise its own money.

The report says any merging of operations between the ABC and SBS would ensure the organisations maintain their separate and unique programming identities.

Yesterday, the head of SBS warned coverage of the Tour de France and the soccer World Cup were at risk if the Government slashed any more funding from the broadcaster.