News Broadcasting
CNN to close US financial news channel
MUMBAI: The dominance of CNBC in the US business and financial news landscape has claimed a victim.
CNN has announced that it will close its financial and business news channel CNNfn by the middle of December.
The financial news network, launched in 1995, competed for viewers as US interest in the financial markets surged. However it failed to get enough distribution on the US’ largest cable operators.
CNNfn is distributed in about 30 million of the 100 million US homes. CNBC meanwhile is available in about 86 million US homes and 200 million worldwide.
CNNfn’s deal with DirecTV was set to expire shortly. If the deal was not renewed then it faced the prospect of losing nearly half of its distribution. News Corp which took a stake in DirecTV last year is thinking in terms of starting its own financial news network.
In a letter adressed to employees CNN US news group president Jim Walton stated, “Exponential growth in the television marketplace since CNNfn’s 1995 launch has made it challenging to grow distribution for many niche networks in today’s highly competitive landscape.
“Our eventual plan is to evolve our business and financial news coverage on a platform where we can benefit from early-mover status “
About 50 of CNNfn’s 110 employees will remain at the company. About 60 employees will be offered an opportunity to reapply for other jobs within the CNN news group. Executives said that about 100 news jobs will be posted at the CNN group.
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.
