The broadcaster also does not plan to air the Eurovision Song Contest.
Czech public television will save 350 million Czech koruna in the future, equivalent to approximately 161 million Swedish kronor, Eurovisionworld.com reports.
The Czech Republic has competed in the Eurovision Song Contest 14 times. After poor results in 2007, 2008 and 2009, the country withdrew for several years and returned in 2015.
"We evaluate each edition of the competition separately and therefore do not want to speculate on when Czech television may return to the Eurovision Song Contest," the broadcaster said in a statement.
