A government spokesman said transmissions would cease early on Wednesday.
More than 2,000 employees will be suspended until the company reopens “as soon as possible.”
It is the latest move in successive rafts of spending cuts and tax rises that the government hope will lead the country out of recession.
“ERT is a case of an exceptional lack of transparency and incredible extravagance. This ends now,” government spokesman Simos Kedikoglou said, according to the AFP news agency.
Unions voiced strong opposition to the move.
An engineer at the broadcaster’s multimedia department who gave his name as Yannis said: “The government announced that channels will shut down at midnight – after that the screens will go black.
“According to the government, from tonight I will be unemployed. It is a complete shock. In four hours’ time I will not have a job.”
ERT is funded by a direct payment by of 4.3 euros added monthly to electricity bills.
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