* Broadcaster to cut more than 650 over three years

* Will allow more TV advertising

* Will seek permission for ads on music radio networks

TORONTO, April 4 (Reuters) - Canada's public broadcaster will cut more than 475 jobs this year and more than 650 over three years after the federal government cut its funding in last week's budget.

The Canadian Broadcasting Corp said on Wednesday it would also seek to increase self-generated revenue by C$50 million ($50 million) over the three years. To do this it will lease property and sell non-core assets as well as allow more advertising on its television networks.

It will also seek regulatory permission to allow commercials on its two national music radio networks, the English-language Radio 2 and the French-language Espace musique, which are now ad-free.

In its budget last Thursday, the Conservative government cut the CBC's funding by C$115 million over three years as part of a push to balance the government's books.

"Obviously, this will have a significant impact on our services, organization and staff," CBC Chief Executive Hubert T. Lacroix said in a statement.

A CBC spokesman said the CBC currently employs 8,900 people, meaning the cuts over three years account for a 7 percent reduction in its workforce.

The CBC will also close shortwave and satellite transmission facilities and focus more on Internet-based broadcasting.

• A Permanent Economic Emergency