News Broadcasting
Deccan Chronicle launches $54.02 million FCCBDeccan Chronicle launches $54.02 million FCCB
MUMBAI: The Hyderbad based – Deccan Chronicle Holdings Ltd has announced that the company has launched $54.02 million foreign currency convertible bonds (FCCB).
According to the information posted on Bombay Stock Exchange (BSE), the bonds are likely to be listed on the Singapore Stock Exchange.
The offering was launched after the trading hour on 12 September.
The bonds have a maturity of five years, and are convertible at a price of Rs 522.835 per share – a premium of 60 per cent over the reference price of Rs 326.772.
The bonds carry zero coupon with a yield-to-maturity of 6.90 per cent.
The offering is subject to the approval of the shareholders at a meeting to be held on 30 September. JP Morgan is the lead manager and the sole book runner for the offering, according to the information on BSE.
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.
