News Broadcasting
FIPB clears hike in NRI stake in K Sera Sera
MUMBAI: The Foreign Investment Promotion Board (FIPB) has formally cleared the transfer of shares held by Indian residents in production company K Sera Sera to non-resident Indian investors. The share transfer amounts to 18.15 per cent of K Sera Sera’s total equity base.
The share sale transaction was done through an off-market deal as per information furnished by the company to the government. At the moment (post-transfer), foreign holding in K Sera Sera stands at 38.04 per cent.
Indias Foreign Investment Promotion Board (FIPB) recommended the K Sera Sera proposal for clearance late last month subject to the condition that it should conform to the existing foreign direct investment (FDI) sectoral policy.
As per an extant policy, 100 per cent FDI is permitted under automatic route for film production.
While recommending the case for finance ministers approval, the FIPB also noted that if for acquisition of 18.15 per cent of total equity, the FIIs and NRIs have to make an open offer to the public, as per regulatory framework, it should be done.
The companys share on the Bombay Stock Exchange closed Wednesday at Rs 126 after opening the day at Rs 131.25.
K Sera Sera was formed in 2002 after a take-over of a listed company Garnet Paper with the help of some NRIs in Hong Kong and the USA, as per information furnished by the company to the government.
Though primarily into film production and distribution business, K Sera Sera made its debut in the television segment of the entertainment industry earlier this year by launching Kuchh Love Kuchh Masti on Sahara One.
The company had submitted an application for post facto approval for transfer of shares in favour of seven NRIs namely KH Ramani, Virendra Khurana, Bhagwandas Chandiramani, Ashok Pamani, Kamini Pamani, RS Motwani and RK Sabnani who acquired 26,33,646 shares of the company through off-market purchases.
In addition, the company also made preferential allotment of fresh shares of 24,88,186 to the NRI and FII investors.
Though the government recently put transfer of shares from resident to non-residents under automatic route, subject to certain conditions, the FIPB did ask for comments from the related ministries as this particular proposal was submitted to the government before policy changes were effected.
While the department of heavy industry had no comments to offer initially, the information and broadcasting ministry did not have any objection to the proposal as it was getting covered under the automatic approval route.
In an interview to indiantelevision.com in the beginning of 2004, company executives had said that 75-80 per cent of revenue was being sought to be generated through movies, while the rest will be through television work, whose share is likely to go up substantially in 2005. Towards this end, the company had admitted signing up Ravi Rai, Clapstem’s Girish Mallik and DJ Creative’s Tony Singh for televsion assignments.
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.
