News Broadcasting
News Corp to launch Fox Business Network on 15 October
MUMBAI: News Corp. will launch Fox Business Network (FBN) on 15 October in a bid to rival business cable channels CNBC and Bloomberg Television, a company statement said.
To be headquartered in New York with established news bureaus in Chicago, Los Angeles, San Francisco, Washington and London, FBN has secured distribution agreements with leading U.S. cable operators including Comcast and Time Warner cable. This is expected to provide the network with at least 30 million subscribers, when it debuts.
News Corp. chairman Rupert Murdoch had previously said it would launch the business channel in the fourth quarter, but did not provide a date.
FBN “will look and feel different”, with more emphasis on entertainment than mere market coverage. The past several months have been spent designing the channel under the eye of senior vice president Fox News veteran Brian Jones.
Jones reports to Fox News executive VP Kevin McGee who will manage the day-to-day operations of FBN.
Currently, Murdoch is in the midst of talks on a $5 billion offer for Wall Street Journal publisher Dow Jones & Co. The deal would provide the new FBN with reporting staff and content from one of the most respected business newspapers.
However, if the deal is through, a content sharing deal between rival CNBC and the Journal that is active till 2012, is expected to complicate any possible synergies between FBN and the Journal.
News Broadcasting
BBC to cut up to 2,000 jobs in biggest overhaul in 15 years
Cost pressures and leadership change drive major workforce reduction plan
LONDON: BBC has unveiled plans to cut up to 2,000 jobs, roughly 10 per cent of its global workforce, in what marks its biggest downsizing in 15 years.
The announcement was made during an all-staff meeting led by interim director-general Rhodri Talfan Davies, as the broadcaster moves to tackle mounting financial pressures and reshape its operations.
Between 1,800 and 2,000 roles are expected to be eliminated from a workforce of around 21,500. The cuts form part of a broader plan to save £500 million over the next two years, aimed at offsetting rising costs, stagnating licence fee income and weaker commercial revenues.
In a communication to staff, BBC interim director-general Rhodri Talfan Davies said, “I know this creates real uncertainty, but we wanted to be open about the challenge,” acknowledging the impact the move would have across the organisation.
The restructuring comes at a time of leadership transition. Former director-general Tim Davie stepped down earlier this month, with Matt Brittin, a former Google executive, set to take over the role on May 18, 2026.
While some cost-cutting measures are being implemented immediately, the majority of the structural changes are expected to roll out over the next few years, with full savings targeted by the 2027–2028 financial year.
The broadcaster had earlier signalled its intent to reduce its cost base by around 10 per cent over a three-year period, warning of “difficult choices” as it adapts to shifting economic realities and audience expectations.
With operating costs hovering around £6 billion annually, the BBC’s latest move underscores the scale of the financial challenge it faces, as it balances public service commitments with the need for long-term sustainability in an increasingly competitive media landscape.
