MAM
Ofcom confirms BBC independent production quota
MUMBAI: The BBC in the UK has achieved an independent production quota of 28.8 per cent in 2003 – 2004. Regulatory body Ofcom has confirmed this in its Communications Market Review report.
The quota that the BBC had to meet was 25 per cent. Across the BBC’s channels, including its digital services, the BBC had commissioned more than 2,300 hours from independent production houses in 2003 – 2004. The highest proportion of independent hours was in entertainment with 47 per cent. This was followed by 37 per cent for the documentary genre.
The BBC had commissioned 175 independent companies and spent £308 million. Independent spend has increased by 64 per cent (£120m) since 2000/1.Ofcom’s confirmation comes on the heels of an announcement made several days ago that the BBC and Pact, which represents independent UK TV producers, had completed negotiations and signed a terms of trade agreement. As per this content copyright will rest with the producers.
BBC Television director Jana Bennett added, “When I came in as director of television, I said we would meet and exceed the quota from then on. From my first full year of business, and with Endemol re-classified, we have achieved a figure well above the quota and well beyond the inclusion of Endemol hours.
“I am committed to staying well above the quota in this current year and in the years to come. Underlying these actual statistics is the need for us to keep supporting creatively what independent supply has to offer across the UK and across all programming and genres.”
Brands
Oyo parent Prism appoints former Sebi chief Ajay Tyagi to Board
Former market regulator joins Prism to strengthen governance for IPO
NEW DELHI: Prism, the parent entity of Oyo, has appointed former Sebi chairman Ajay Tyagi as an independent director, as the hospitality firm gears up for its planned Rs 6,650 crore initial public offering (IPO).
Tyagi, a 1984-batch IAS officer, served as chairman of the Securities and Exchange Board of India (SEBI) from 2017 to 2022. His appointment is aimed at strengthening the company’s governance framework and providing strategic oversight as it moves closer to a public listing.
He joins a high-profile board that already includes several prominent names from global business and policy circles. These include Troy Matthew Alstead, former CFO and group president of Starbucks; Aditya Ghosh, co-founder of Akasa Air; Deepa Malik, paralympic athlete and Padma Shri awardee; William Steve Albrecht, professor of accountancy at Utah State University; and Bejul Somaia, partner at Lightspeed Venture Partners.
Prism founder Ritesh Agarwal, said Tyagi’s experience in capital markets regulation and public-institution stewardship will be critical as the company scales operations and enhances long-term accountability.
The company recently filed preliminary papers with Sebi to raise Rs 6,650 crore through a confidential route. Market sources estimate its valuation will be in the range of $7 billion to $8 billion.
Over the course of his career, Tyagi has held senior roles in the ministry of finance, where he oversaw investment policy and financial-sector reforms. His induction to the Prism board signals a renewed focus on aligning the company’s internal standards with the stringent requirements of public markets as it advances toward its IPO.
