News Broadcasting
Few shareholders tender Network 18 and TV18 shares against Reliance open offer
BENGALURU: A small fraction of the shareholders tendered their shares to the Reliance Industries led Independent Media Trust (IMT), in its bid to acquire over 90 per cent stake in the two companies – TV18 Broadcast and Network 18 Media & Investments.
Only 54 lakh TV18 Broadcast shares representing 0.32 per cent were tendered against the 44.65 crore shares representing 26 per cent that Reliance proposed to buy , and a meager 2.6 lakh Network 18 shares representing just 0.2 per cent of the shareholding were tendered. IMT spent just Rs 16.43 crore for the TV 18 tendered shares and Rs 1.06 crore for the Network 18 shares. IMT’s offer was Rs 30.18 per TV18 Broadcast equity share and Rs 41.04 per Network 18 equity share.
The new acquisitions brought IMT/Reliance group’s stake in TV18 Broadcast to 60.29 per cent and to 78.07 per cent in Network 18.
Reliance may have to sell off some Network 18 shares to meet the minimum shareholding norms of 25 per cent. At present, the public shareholding in the company stands at 20.27 per cent.
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.
